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

The Liberty SiriusXM Group (NASDAQ:LSXMA - Get Free Report) gapped up prior to trading on Monday following insider buying activity. 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 changing hands.

Specifically, major shareholder Berkshire Hathaway Inc bought 175,827 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $30.70 per share, for a total transaction of $5,397,888.90. Following the completion of the transaction, the insider now owns 48,499,472 shares of the company's stock, valued at $1,488,933,790.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 6,817,430 shares of company stock valued at $191,540,285.

Analyst Upgrades and Downgrades

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

The Liberty SiriusXM Group Stock Up 5.3 %

The firm has a 50 day moving average of $28.10 and a 200-day moving average of $28.00.

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

Institutional Investors Weigh In On The Liberty SiriusXM Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LSXMA. Treasurer of the State of North Carolina grew its stake in The Liberty SiriusXM Group by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 32,939 shares of the technology company's stock valued at $947,000 after purchasing an additional 330 shares during the last quarter. Equitable Trust Co. boosted its position in The Liberty SiriusXM Group by 7.2% in the 4th quarter. Equitable Trust Co. now owns 16,517 shares of the technology company's stock worth $475,000 after purchasing an additional 1,105 shares in the last quarter. Jump Financial LLC grew its stake in shares of The Liberty SiriusXM Group by 12.7% during the 4th quarter. Jump Financial LLC now owns 10,816 shares of the technology company's stock worth $311,000 after purchasing an additional 1,216 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of The Liberty SiriusXM Group by 70,150.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,405 shares of the technology company's stock valued at $40,000 after purchasing an additional 1,403 shares in the last quarter. Finally, swisspartners Advisors Ltd lifted its stake in shares of The Liberty SiriusXM Group by 0.9% in the 3rd quarter. swisspartners Advisors Ltd now owns 161,770 shares of the technology company's stock valued at $3,769,000 after purchasing an additional 1,480 shares during the period. 28.72% of the stock is currently owned by hedge funds and other institutional investors.

About The Liberty SiriusXM Group

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.