Northern Trust Corp Sells 117,848 Shares of Liberty Global Ltd $LBTYA

Key Points

• Northern Trust Corp reduced its stake in Liberty Global Ltd by 11.4%, selling 117,848 shares and holding approximately 913,018 shares valued at $10.5 million.
• Liberty Global reported a significant loss of ($8.09) EPS last quarter, missing estimates, but its revenue exceeded expectations at $1.27 billion.
• Recent analyst ratings show mixed sentiment for Liberty Global, with some upgrading to "hold" while others have set varied price targets, reflecting uncertain market confidence.

Northern Trust Corp cut its position in shares of Liberty Global Ltd (NASDAQ:LBTYA - Free Report) by 11.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 913,018 shares of the company's stock after selling 117,848 shares during the period. Northern Trust Corp owned approximately 0.26% of Liberty Global worth $10,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LBTYA. CWM LLC boosted its stake in Liberty Global by 81.5% during the first quarter. CWM LLC now owns 2,285 shares of the company's stock valued at $26,000 after buying an additional 1,026 shares during the last quarter. Versant Capital Management Inc bought a new position in Liberty Global during the first quarter valued at approximately $50,000. GAMMA Investing LLC boosted its stake in Liberty Global by 2,370.7% during the first quarter. GAMMA Investing LLC now owns 6,745 shares of the company's stock valued at $78,000 after buying an additional 6,472 shares during the last quarter. Friedenthal Financial bought a new position in Liberty Global during the first quarter valued at approximately $78,000. Finally, Central Pacific Bank Trust Division boosted its stake in Liberty Global by 90.9% during the first quarter. Central Pacific Bank Trust Division now owns 10,500 shares of the company's stock valued at $121,000 after buying an additional 5,000 shares during the last quarter. 37.20% of the stock is owned by institutional investors.

Insider Transactions at Liberty Global

In other news, CAO Jason Waldron sold 34,380 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $11.55, for a total value of $397,089.00. Following the sale, the chief accounting officer directly owned 8,383 shares in the company, valued at approximately $96,823.65. This represents a 80.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $375,718.20. This trade represents a 64.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,980 shares of company stock worth $1,577,091. 13.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LBTYA. UBS Group upped their price objective on Liberty Global from $10.60 to $11.80 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Berenberg Bank upgraded Liberty Global to a "hold" rating in a research report on Thursday, June 26th. Zacks Research upgraded Liberty Global to a "hold" rating in a research report on Wednesday, September 3rd. Benchmark restated a "buy" rating and set a $21.00 price objective (up from $18.00) on shares of Liberty Global in a research report on Monday, August 4th. Finally, Citigroup decreased their price objective on Liberty Global from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.26.

Liberty Global Trading Up 3.6%

Shares of NASDAQ LBTYA traded up $0.41 during midday trading on Thursday, hitting $11.95. The company's stock had a trading volume of 2,029,732 shares, compared to its average volume of 1,705,982. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The business's 50 day moving average is $10.88 and its two-hundred day moving average is $10.60. Liberty Global Ltd has a 12-month low of $9.02 and a 12-month high of $21.56. The firm has a market cap of $4.07 billion, a P/E ratio of -1.22 and a beta of 1.17.

Liberty Global (NASDAQ:LBTYA - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported ($8.09) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($7.54). Liberty Global had a negative return on equity of 22.64% and a negative net margin of 60.38%.The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.20 billion. As a group, equities research analysts expect that Liberty Global Ltd will post -1.35 EPS for the current year.

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.