The Liberty SiriusXM Group (NASDAQ:LSXMA) Rating Increased to Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of The Liberty SiriusXM Group (NASDAQ:LSXMA - Free Report) from a neutral rating to a buy rating in a research note published on Monday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for The Liberty SiriusXM Group's Q1 2024 earnings at $0.76 EPS, Q2 2024 earnings at $0.86 EPS, Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $3.52 EPS.

Separately, Citigroup lowered The Liberty SiriusXM Group from a buy rating to a neutral rating and dropped their price objective for the company from $35.00 to $28.00 in a report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $37.67.

The Liberty SiriusXM Group Stock Performance

NASDAQ LSXMA traded up $0.14 during mid-day trading on Monday, reaching $24.77. 836,915 shares of the stock were exchanged, compared to its average volume of 1,636,089. The Liberty SiriusXM Group has a 1 year low of $22.01 and a 1 year high of $31.69. The business's 50 day moving average is $27.69 and its 200-day moving average is $27.93.

The Liberty SiriusXM Group (NASDAQ:LSXMA - Get Free Report) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.53 earnings per share (EPS) for the quarter. The firm had revenue of $2.29 billion for the quarter. On average, research analysts predict that The Liberty SiriusXM Group will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 1,250,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were purchased 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 approximately $1,852,599,354.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have bought 6,457,501 shares of company stock worth $179,148,132. Insiders own 12.47% of the company's stock.

Institutional Investors Weigh In On The Liberty SiriusXM Group

A number of hedge funds have recently modified their holdings of LSXMA. TFO Wealth Partners LLC increased its holdings in shares of The Liberty SiriusXM Group by 70,150.0% in the fourth 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 during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of The Liberty SiriusXM Group in the 1st quarter worth $94,000. LWM Advisory Services LLC acquired a new position in shares of The Liberty SiriusXM Group during the 3rd quarter valued at about $134,000. Seizert Capital Partners LLC purchased a new stake in shares of The Liberty SiriusXM Group in the fourth quarter valued at about $224,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in The Liberty SiriusXM Group during the fourth quarter worth about $234,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

The Liberty SiriusXM Group Company Profile

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.