Liberty Sirius XM Group Series C (NASDAQ:LSXMK) Upgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research upgraded shares of Liberty Sirius XM Group Series C (NASDAQ:LSXMK) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “The Liberty SiriusXM Group provides satellite radio services consists of commercial-free music, sports, news, talk, entertainment, traffic and weather. The Liberty SiriusXM Group is based in United States. “

LSXMK has been the subject of several other reports. Pivotal Research reiterated a buy rating and issued a $63.00 price target on shares of Liberty Sirius XM Group Series C in a research note on Tuesday, March 31st. Morgan Stanley cut their price target on Liberty Sirius XM Group Series C from $40.00 to $39.30 and set an overweight rating for the company in a research note on Wednesday, May 20th.

NASDAQ LSXMK traded down $2.64 during trading on Wednesday, reaching $34.54. 59,707 shares of the company’s stock were exchanged, compared to its average volume of 1,287,121. The business has a 50 day moving average price of $33.68 and a 200-day moving average price of $41.12. The stock has a market capitalization of $7.50 billion, a P/E ratio of 19.95, a PEG ratio of 1.56 and a beta of 1.31. Liberty Sirius XM Group Series C has a fifty-two week low of $23.01 and a fifty-two week high of $51.36.

Liberty Sirius XM Group Series C (NASDAQ:LSXMK) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.95 billion for the quarter. On average, analysts forecast that Liberty Sirius XM Group Series C will post 1.96 earnings per share for the current year.

In other news, major shareholder Berkshire Hathaway Inc purchased 2,374,180 shares of the business’s stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $36.47 per share, with a total value of $86,586,344.60. Insiders purchased 4,841,130 shares of company stock valued at $172,052,755 over the last 90 days.

A number of institutional investors and hedge funds have recently modified their holdings of LSXMK. Cornerstone Advisors Inc. boosted its position in shares of Liberty Sirius XM Group Series C by 184.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 970 shares of the technology company’s stock worth $31,000 after purchasing an additional 629 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Liberty Sirius XM Group Series C in the 1st quarter valued at about $38,000. Mint Tower Capital Management B.V. purchased a new stake in Liberty Sirius XM Group Series C in the 4th quarter valued at about $39,000. Americana Partners LLC purchased a new stake in Liberty Sirius XM Group Series C in the 4th quarter valued at about $43,000. Finally, Simon Quick Advisors LLC increased its stake in Liberty Sirius XM Group Series C by 174.8% in the 1st quarter. Simon Quick Advisors LLC now owns 1,954 shares of the technology company’s stock valued at $62,000 after buying an additional 1,243 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

About Liberty Sirius XM Group Series C

The Liberty SiriusXM Group, through its subsidiary, Sirius XM Holdings Inc, transmits music, sports, entertainment, comedy, talk, news, traffic, and weather channels in the United States and Canada. The company also provides infotainment services; and streaming services through applications for mobile and home devices, and other consumer electronic equipment, as well as online.

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