Contour Asset Management LLC Takes Position in Liberty Global Ltd $LBTYK

Key Points

• Contour Asset Management LLC has acquired a new stake in Liberty Global Ltd, purchasing 790,254 shares valued at approximately $9.46 million, making Liberty Global the firm's 27th largest position.
• Insider trading activity saw significant sales, with CAO Jason Waldron cutting 80.4% of his position by selling 34,380 shares, while CFO Charles H. R. Bracken sold 60,000 shares, reducing his ownership by 64.36%.
• Liberty Global reported an earnings per share (EPS) of ($8.09) for the last quarter, missing estimates significantly, although it generated $1.27 billion in revenue, surpassing expectations.

Contour Asset Management LLC bought a new stake in Liberty Global Ltd (NASDAQ:LBTYK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 790,254 shares of the company's stock, valued at approximately $9,459,000. Liberty Global makes up approximately 0.4% of Contour Asset Management LLC's investment portfolio, making the stock its 27th biggest holding. Contour Asset Management LLC owned approximately 0.23% of Liberty Global at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LBTYK. PDT Partners LLC increased its holdings in shares of Liberty Global by 725.5% during the 1st quarter. PDT Partners LLC now owns 274,895 shares of the company's stock valued at $3,290,000 after acquiring an additional 241,595 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of Liberty Global by 214.6% during the 1st quarter. Maverick Capital Ltd. now owns 45,192 shares of the company's stock valued at $541,000 after acquiring an additional 30,829 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Liberty Global by 156.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 463,678 shares of the company's stock valued at $5,550,000 after acquiring an additional 282,600 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Liberty Global by 22.5% during the 1st quarter. Royal Bank of Canada now owns 33,798 shares of the company's stock valued at $405,000 after acquiring an additional 6,217 shares during the last quarter. Finally, Graham Capital Management L.P. increased its holdings in shares of Liberty Global by 17.8% during the 1st quarter. Graham Capital Management L.P. now owns 301,876 shares of the company's stock valued at $3,613,000 after acquiring an additional 45,710 shares during the last quarter. Institutional investors own 46.10% of the company's stock.

Insider Transactions at Liberty Global

In other news, CFO Charles H. R. Bracken sold 60,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $11.31, for a total value of $678,600.00. Following the completion of the transaction, the chief financial officer directly owned 33,220 shares of the company's stock, valued at approximately $375,718.20. This represents a 64.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Miranda Curtis sold 42,600 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $11.77, for a total value of $501,402.00. Following the completion of the transaction, the director directly owned 129,305 shares of the company's stock, valued at approximately $1,521,919.85. The trade was a 24.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,980 shares of company stock valued at $1,577,091. Corporate insiders own 9.86% of the company's stock.

Liberty Global Stock Performance

NASDAQ:LBTYK traded down $0.05 during mid-day trading on Friday, hitting $12.09. 594,212 shares of the company's stock traded hands, compared to its average volume of 978,017. The firm has a 50 day moving average of $10.95 and a two-hundred day moving average of $10.90. Liberty Global Ltd has a 12 month low of $9.21 and a 12 month high of $22.14. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -1.24 and a beta of 1.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59.

Liberty Global (NASDAQ:LBTYK - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported ($8.09) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($7.65). Liberty Global had a negative net margin of 60.38% and a negative return on equity of 22.64%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion.

About Liberty Global

Liberty Global Ltd., together with its subsidiaries, provides broadband internet, video, fixed-line telephony, and mobile communications services to residential and business customers. It offers value-added broadband services, such as WiFi features, security, anti-virus, firewall, spam protection, smart home services, online storage solutions, and web spaces; and Connect Box that delivers in-home Wi-Fi service.