Liberty Global (NASDAQ:LILAK) Price Target Raised to $9.00

Key Points

• Citigroup raised Liberty Global’s price target from $8.00 to $9.00 while maintaining a neutral rating, implying 6.76% upside from the prior close. Analysts overall assign the stock an average “Reduce” rating with an $8.60 price target.
• Liberty Global shares fell 1.2% to $8.43, while the company’s latest quarterly results missed expectations on earnings, reporting a loss of $0.13 per share versus the anticipated $0.02 profit, despite revenue slightly exceeding estimates.
• Insiders and institutional investors have been buying shares: insiders purchased more than 15 million shares worth approximately $124 million over the past three months, while institutional investors own 52.98% of the stock.

Liberty Global (NASDAQ:LILAK - Get Free Report) had its price target upped by analysts at Citigroup from $8.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target points to a potential upside of 6.76% from the company's previous close.

LILAK has been the subject of several other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Liberty Global in a report on Friday, July 17th. Wall Street Zen downgraded shares of Liberty Global from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $8.60.

Liberty Global Trading Down 1.2%

Shares of Liberty Global stock traded down $0.10 during trading on Thursday, hitting $8.43. The stock had a trading volume of 1,228,731 shares, compared to its average volume of 1,124,397. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -17.20 and a beta of 0.71. Liberty Global has a 12 month low of $4.76 and a 12 month high of $9.13. The business's 50-day moving average is $7.46 and its 200 day moving average is $7.88.

Liberty Global (NASDAQ:LILAK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.15). The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Liberty Global had a negative return on equity of 8.50% and a negative net margin of 2.20%.

Insider Transactions at Liberty Global

In other news, SVP John M. Winter purchased 5,071 shares of the company's stock in a transaction on Friday, June 26th. The stock was purchased at an average price of $19.67 per share, with a total value of $99,746.57. Following the completion of the purchase, the senior vice president directly owned 64,547 shares in the company, valued at approximately $1,269,639.49. This trade represents a 8.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. R. Bracken acquired 4,900 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $20.50 per share, with a total value of $100,450.00. Following the completion of the acquisition, the director directly owned 18,867 shares in the company, valued at approximately $386,773.50. This represents a 35.08% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 15,017,260 shares of company stock worth $123,992,392. 9.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC boosted its stake in shares of Liberty Global by 3.9% in the 1st quarter. Empowered Funds LLC now owns 796,975 shares of the company's stock valued at $7,029,000 after purchasing an additional 29,933 shares in the last quarter. Cim Investment Management Inc. raised its position in Liberty Global by 142.3% in the 1st quarter. Cim Investment Management Inc. now owns 44,079 shares of the company's stock worth $389,000 after purchasing an additional 25,885 shares during the period. Bank of America Corp DE raised its position in Liberty Global by 26.7% in the 1st quarter. Bank of America Corp DE now owns 467,627 shares of the company's stock worth $4,124,000 after purchasing an additional 98,507 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Liberty Global by 377.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,136 shares of the company's stock worth $28,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Rubric Capital Management LP lifted its stake in Liberty Global by 44.5% in the first quarter. Rubric Capital Management LP now owns 15,395,430 shares of the company's stock worth $135,788,000 after purchasing an additional 4,738,495 shares during the last quarter. 52.98% of the stock is owned by hedge funds and other institutional investors.

About Liberty Global

Liberty Global plc is a leading international telecommunications and television company, offering video, broadband Internet, fixed-line and mobile services to residential and business customers. Headquartered in London and operating as an ADR on the NASDAQ under the ticker LILAK, the company focuses on developing advanced broadband networks and delivering entertainment and connectivity solutions across Europe.

The company's core products include high-speed cable broadband, digital and interactive television, fixed-line telephony, and mobile services.

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