Algert Global LLC Makes New Investment in The Liberty SiriusXM Group (NASDAQ:LSXMK)

Algert Global LLC acquired a new stake in The Liberty SiriusXM Group (NASDAQ:LSXMK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,213 shares of the technology company’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in The Liberty SiriusXM Group by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 15,405,871 shares of the technology company’s stock worth $457,708,000 after buying an additional 1,554,904 shares during the last quarter. Millennium Management LLC grew its holdings in The Liberty SiriusXM Group by 66.4% in the second quarter. Millennium Management LLC now owns 3,512,121 shares of the technology company’s stock valued at $77,829,000 after purchasing an additional 1,401,170 shares during the period. AQR Capital Management LLC grew its holdings in The Liberty SiriusXM Group by 104.3% in the second quarter. AQR Capital Management LLC now owns 1,517,211 shares of the technology company’s stock valued at $33,318,000 after purchasing an additional 774,684 shares during the period. Pentwater Capital Management LP raised its stake in The Liberty SiriusXM Group by 82.6% during the second quarter. Pentwater Capital Management LP now owns 785,000 shares of the technology company’s stock worth $17,396,000 after purchasing an additional 355,000 shares during the period. Finally, Hi Line Capital Management LLC raised its stake in The Liberty SiriusXM Group by 61.0% during the first quarter. Hi Line Capital Management LLC now owns 662,276 shares of the technology company’s stock worth $19,676,000 after purchasing an additional 250,949 shares during the period. Hedge funds and other institutional investors own 56.58% of the company’s stock.

The Liberty SiriusXM Group Stock Down 1.2 %

LSXMK opened at $22.29 on Wednesday. The company has a 50 day moving average of $22.37 and a two-hundred day moving average of $23.30. The Liberty SiriusXM Group has a 52-week low of $20.05 and a 52-week high of $31.67. The company has a market cap of $7.28 billion and a P/E ratio of 9.17.

The Liberty SiriusXM Group (NASDAQ:LSXMK) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.60 earnings per share for the quarter. The business had revenue of $2.18 billion for the quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Rosenblatt Securities dropped their price objective on The Liberty SiriusXM Group from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. StockNews.com assumed coverage on The Liberty SiriusXM Group in a report on Sunday. They issued a “sell” rating on the stock.

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.