Corvex Management LP Acquires 231,823 Shares of The Liberty SiriusXM Group (NASDAQ:LSXMA)

Corvex Management LP boosted its position in The Liberty SiriusXM Group (NASDAQ:LSXMA) by 44.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 758,914 shares of the technology company’s stock after purchasing an additional 231,823 shares during the period. The Liberty SiriusXM Group comprises 1.6% of Corvex Management LP’s portfolio, making the stock its 13th biggest holding. Corvex Management LP owned about 0.23% of The Liberty SiriusXM Group worth $33,453,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LSXMA. Standard Life Aberdeen plc raised its stake in The Liberty SiriusXM Group by 0.9% during the 1st quarter. Standard Life Aberdeen plc now owns 25,686 shares of the technology company’s stock valued at $1,134,000 after purchasing an additional 239 shares during the period. Hall Laurie J Trustee boosted its holdings in The Liberty SiriusXM Group by 74.3% during the 1st quarter. Hall Laurie J Trustee now owns 610 shares of the technology company’s stock valued at $27,000 after acquiring an additional 260 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in The Liberty SiriusXM Group by 8.0% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,150 shares of the technology company’s stock valued at $227,000 after acquiring an additional 380 shares during the period. HighTower Advisors LLC boosted its holdings in The Liberty SiriusXM Group by 7.5% during the 1st quarter. HighTower Advisors LLC now owns 7,838 shares of the technology company’s stock valued at $342,000 after acquiring an additional 547 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in The Liberty SiriusXM Group by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,081 shares of the technology company’s stock valued at $665,000 after acquiring an additional 555 shares during the period. 26.61% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on LSXMA shares. upped their price objective on The Liberty SiriusXM Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, June 9th. Citigroup increased their price objective on The Liberty SiriusXM Group from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, June 9th. Seven investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $51.00.

LSXMA stock traded down $0.21 during midday trading on Thursday, hitting $46.14. 2,778 shares of the company’s stock were exchanged, compared to its average volume of 558,967. The company’s 50-day simple moving average is $44.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.92. The Liberty SiriusXM Group has a 1-year low of $31.64 and a 1-year high of $47.79.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last issued its quarterly earnings data on Friday, May 7th. The technology company reported ($0.03) earnings per share for the quarter. The Liberty SiriusXM Group had a negative net margin of 11.93% and a positive return on equity of 0.02%. The firm had revenue of $2.06 billion during the quarter.

The Liberty SiriusXM Group Company Profile

Liberty Media Corp. engages in the operation media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1, and Corporate and Other. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora.

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Institutional Ownership by Quarter for The Liberty SiriusXM Group (NASDAQ:LSXMA)

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