The Liberty SiriusXM Group (NASDAQ:LSXMA) Shares Gap Up After Insider Buying Activity

The Liberty SiriusXM Group (NASDAQ:LSXMA) gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $24.31, but opened at $25.06. The Liberty SiriusXM Group shares last traded at $25.42, with a volume of 150,627 shares traded.

Specifically, major shareholder Berkshire Hathaway Inc purchased 20,609 shares of The Liberty SiriusXM Group stock in a transaction dated Monday, March 11th. The shares were bought at an average cost of $29.94 per share, for a total transaction of $617,033.46. Following the completion of the acquisition, the insider now owns 25,773,955 shares in the company, valued at approximately $771,672,212.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 6,321,691 shares of company stock worth $176,608,626 in the last 90 days.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered The Liberty SiriusXM Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $28.00 in a research report on Wednesday, April 24th.

The Liberty SiriusXM Group Stock Up 5.3 %

The stock has a fifty day simple moving average of $28.01 and a two-hundred day simple moving average of $27.99.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $2.29 billion during the quarter. On average, equities analysts anticipate that The Liberty SiriusXM Group will post 1.41 EPS for the current year.

Hedge Funds Weigh In On The Liberty SiriusXM Group

Institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC lifted its stake in The Liberty SiriusXM Group by 70,150.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,405 shares of the technology company’s stock valued at $40,000 after buying an additional 1,403 shares during the period. LWM Advisory Services LLC bought a new stake in shares of The Liberty SiriusXM Group during the third quarter valued at approximately $134,000. Seizert Capital Partners LLC bought a new stake in shares of The Liberty SiriusXM Group during the fourth quarter valued at approximately $224,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of The Liberty SiriusXM Group during the fourth quarter valued at approximately $234,000. Finally, Jump Financial LLC bought a new stake in shares of The Liberty SiriusXM Group during the third quarter valued at approximately $244,000. 28.72% of the stock is owned by institutional investors and hedge funds.

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.