Bank of Nova Scotia Makes New Investment in The Liberty SiriusXM Group (NASDAQ:LSXMK)

Bank of Nova Scotia purchased a new stake in shares of The Liberty SiriusXM Group (NASDAQ:LSXMKFree Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 59,804 shares of the technology company’s stock, valued at approximately $1,721,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in The Liberty SiriusXM Group in the fourth quarter valued at approximately $66,000. TFO Wealth Partners LLC increased its holdings in shares of The Liberty SiriusXM Group by 43,283.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,603 shares of the technology company’s stock worth $75,000 after buying an additional 2,597 shares during the last quarter. Headlands Technologies LLC raised its position in shares of The Liberty SiriusXM Group by 615.9% during the 4th quarter. Headlands Technologies LLC now owns 3,379 shares of the technology company’s stock valued at $97,000 after buying an additional 2,907 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of The Liberty SiriusXM Group during the 3rd quarter worth $178,000. Finally, CI Investments Inc. grew its position in The Liberty SiriusXM Group by 3,206.0% in the third quarter. CI Investments Inc. now owns 7,108 shares of the technology company’s stock worth $181,000 after acquiring an additional 6,893 shares in the last quarter. 56.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LSXMK shares. StockNews.com upgraded The Liberty SiriusXM Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Seaport Res Ptn upgraded The Liberty SiriusXM Group from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, The Liberty SiriusXM Group currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Read Our Latest Stock Analysis on The Liberty SiriusXM Group

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 1,250,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was bought at an average cost of $27.76 per share, for a total transaction of $34,700,000.00. Following the acquisition, the insider now directly owns 66,736,288 shares of the company’s stock, valued at approximately $1,852,599,354.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Liberty SiriusXM Group news, major shareholder Berkshire Hathaway Inc bought 1,250,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were bought at an average cost of $27.76 per share, with a total value of $34,700,000.00. Following the completion of the purchase, the insider now directly owns 66,736,288 shares of the company’s stock, valued at $1,852,599,354.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John C. Malone sold 139,065 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $68.98, for a total value of $9,592,703.70. Following the transaction, the chairman now directly owns 2,401,365 shares of the company’s stock, valued at approximately $165,646,157.70. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 4,513,503 shares of company stock valued at $121,913,983 and sold 229,248 shares valued at $15,950,628. Insiders own 12.47% of the company’s stock.

The Liberty SiriusXM Group Stock Up 0.6 %

The Liberty SiriusXM Group stock opened at $21.02 on Friday. The firm has a fifty day simple moving average of $24.64 and a two-hundred day simple moving average of $27.59. The Liberty SiriusXM Group has a twelve month low of $20.62 and a twelve month high of $31.67. The company has a market capitalization of $6.87 billion and a PE ratio of 8.65.

The Liberty SiriusXM Group (NASDAQ:LSXMKGet Free Report) last released its earnings results on Wednesday, May 8th. The technology company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.05). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. As a group, equities analysts expect that The Liberty SiriusXM Group will post 3.52 earnings per share for the current fiscal year.

About The Liberty SiriusXM Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Liberty SiriusXM Group (NASDAQ:LSXMK)

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