Victory Capital Management Inc. Acquires New Stake in The Liberty SiriusXM Group (NASDAQ:LSXMA)

Victory Capital Management Inc. bought a new stake in The Liberty SiriusXM Group (NASDAQ:LSXMA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 39,719 shares of the technology company’s stock, valued at approximately $880,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LSXMA. Treasurer of the State of North Carolina raised its stake in shares of 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 worth $947,000 after buying an additional 330 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in The Liberty SiriusXM Group by 1.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 41,285 shares of the technology company’s stock valued at $914,000 after purchasing an additional 490 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in The Liberty SiriusXM Group in the 1st quarter valued at about $29,000. Jump Financial LLC raised its stake in The Liberty SiriusXM Group by 12.7% in the 4th quarter. Jump Financial LLC now owns 10,816 shares of the technology company’s stock valued at $311,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new position in The Liberty SiriusXM Group in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 28.72% of the company’s stock.

The Liberty SiriusXM Group Price Performance

LSXMA opened at $22.29 on Friday. The stock has a market capitalization of $7.28 billion and a price-to-earnings ratio of 9.17. The business has a 50-day moving average of $22.50 and a two-hundred day moving average of $24.02. The Liberty SiriusXM Group has a 12 month low of $20.13 and a 12 month high of $31.69.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.02). The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.21 billion. Equities research analysts anticipate that The Liberty SiriusXM Group will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

LSXMA has been the subject of several analyst reports. Evercore ISI reissued an “in-line” rating and issued a $27.00 target price (down previously from $36.00) on shares of The Liberty SiriusXM Group in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Liberty SiriusXM Group from $34.00 to $31.50 and set a “buy” rating for the company in a research note on Monday, June 17th. Finally, Benchmark reissued a “buy” rating and issued a $54.00 target price on shares of The Liberty SiriusXM Group in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.13.

The Liberty SiriusXM Group 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.