Ground Swell Capital LLC Acquires New Position in The Liberty SiriusXM Group (NASDAQ:LSXMA)

Ground Swell Capital LLC bought a new position in shares of The Liberty SiriusXM Group (NASDAQ:LSXMA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,878 shares of the technology company’s stock, valued at approximately $485,000. The Liberty SiriusXM Group accounts for 0.4% of Ground Swell Capital LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of The Liberty SiriusXM Group by 12.7% during the 1st quarter. Vanguard Group Inc. now owns 12,262,936 shares of the technology company’s stock worth $364,209,000 after buying an additional 1,386,685 shares during the last quarter. UBS Group AG raised its position in The Liberty SiriusXM Group by 769.2% during the fourth quarter. UBS Group AG now owns 1,402,409 shares of the technology company’s stock worth $40,305,000 after acquiring an additional 1,241,057 shares during the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of The Liberty SiriusXM Group in the fourth quarter valued at about $22,217,000. Norges Bank acquired a new stake in shares of The Liberty SiriusXM Group in the fourth quarter valued at approximately $16,397,000. Finally, Cadian Capital Management LP grew its position in shares of The Liberty SiriusXM Group by 35.2% in the fourth quarter. Cadian Capital Management LP now owns 1,474,376 shares of the technology company’s stock valued at $42,374,000 after purchasing an additional 384,000 shares during the last quarter. 28.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Benchmark restated a “buy” rating and issued a $54.00 price objective on shares of The Liberty SiriusXM Group in a research report on Monday, August 12th. Evercore ISI reaffirmed an “in-line” rating and set a $27.00 price target (down from $36.00) on shares of The Liberty SiriusXM Group in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Liberty SiriusXM Group from $34.00 to $31.50 and set a “buy” rating for the company in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.13.

Insider Activity

In other The Liberty SiriusXM Group news, major shareholder Berkshire Hathaway Inc sold 52,911 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $34.06, for a total value of $1,802,148.66. Following the transaction, the insider now owns 4,999,007 shares in the company, valued at approximately $170,266,178.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

The Liberty SiriusXM Group Stock Performance

LSXMA opened at $22.29 on Wednesday. The company has a market cap of $7.28 billion and a PE ratio of 9.17. The Liberty SiriusXM Group has a 1 year low of $20.13 and a 1 year high of $31.69. The firm has a 50 day moving average price of $22.59 and a 200 day moving average price of $24.34.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.21 billion. On average, sell-side analysts predict that The Liberty SiriusXM Group will post 2.49 earnings per share for the current year.

The Liberty SiriusXM Group Company Profile

The Liberty SiriusXM Group, through its subsidiaries, engages in the entertainment business in the United States, the United Kingdom, and internationally. It features music, sports, entertainment, comedy, talk, news, traffic, weather channels, podcast, and infotainment services through proprietary satellite radio systems, as well as streamed through SXM App for mobile and home devices, and other consumer electronic equipment.