On September 20, 2023, it was reported that DnB Asset Management AS has reduced its holdings in shares of The Liberty SiriusXM Group by 38.0% during the second quarter of this year. The information was disclosed in the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). As a result of this reduction, DnB Asset Management AS now owns 16,000 shares of the technology company’s stock, having sold 9,786 shares during the quarter. These holdings were estimated to be worth $525,000 at the time of filing.
The Liberty SiriusXM Group is involved in the entertainment business in both the United States and Canada. The company provides a diverse range of services including music, sports, entertainment, comedy, talk shows, news programs, traffic updates, weather reports, podcasts, and infotainment services. These services are made available through proprietary satellite radio systems which can be accessed via applications on mobile and home devices as well as other consumer electronic equipment.
This development sheds light on the shifting dynamics within DnB Asset Management AS’s investment portfolio. By reducing its holdings in The Liberty SiriusXM Group, it suggests a reevaluation of their investments and perhaps a reallocation of capital towards other opportunities or sectors with potentially higher growth prospects.
It is worth noting that changes in asset management portfolios are not uncommon as market conditions evolve over time. Investment firms continuously assess their holdings to optimize returns and manage risk effectively for their clients. This requires making decisions based on careful analysis and consideration of various factors such as overall market trends, company performance indicators, and specific investment objectives.
While it is unclear from the available information why DnB Asset Management AS decided to trim its position in The Liberty SiriusXM Group at this particular time or what future actions they may take regarding their remaining holdings in the technology company; this move underscores the importance of monitoring market developments and adjusting investment strategies accordingly.
Investors and market observers will be paying close attention to future SEC filings from DnB Asset Management AS to gauge their ongoing approach towards The Liberty SiriusXM Group and other investments. These reports provide valuable insights into the investment decisions of prominent asset managers, offering a window into their evaluations of various companies and industries. It is a crucial tool for investors seeking to stay informed and make well-informed decisions about their own portfolios.
Overall, the trimming of holdings by DnB Asset Management AS in The Liberty SiriusXM Group showcases the ever-evolving nature of investment management. As investment firms adapt their portfolios to changing market conditions, it serves as a reminder of the importance of careful analysis and strategic decision-making in optimizing returns and managing risk effectively.
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Recent Changes in Stakeholder Composition of The Liberty SiriusXM Group and Analysis of Stock Performance
The Liberty SiriusXM Group, a prominent entertainment company operating in the United States and Canada, has seen changes in its stakeholder composition recently. Various institutional investors and hedge funds have either increased or decreased their stakes in the company. JPMorgan Chase & Co., for instance, grew its stake by an impressive 208 percent during the fourth quarter of last year. As a result, the firm now owns 1,961,423 shares of The Liberty SiriusXM Group’s stock, which is valued at $77,103,000.
Sculptor Capital LP also saw growth in its stake by 36.1 percent during the first quarter of this year. This adds up to a total ownership of 3,230,683 shares worth $90,750,000 for Sculptor Capital LP. Arrowstreet Capital Limited Partnership experienced a similar increase of 178.9 percent during the same period. Consequently, Arrowstreet Capital Limited Partnership now owns 1,223,493 shares valued at $34,368,000.
Baupost Group LLC MA joined the fray as well by growing its stake by 13 percent during the first quarter of this year. This move equates to Baupost Group LLC MA now owning 5,619?936 shares worth $256?887?000.
In addition to these investors and funds’ activities regarding The Liberty SiriusXM Group’s stock ownerships is Norges Bank’s purchase of a new stake during the fourth quarter of last year which amounts to about $21?652?000.
It is worth noting that hedge funds and other institutional investors currently own approximately 0.40 percent of The Liberty SiriusXM Group’s stock.
Several analysts have provided their insights on LSXMA (The Liberty SiriusXM Group) shares as well. Benchmark lowered their price target from $60.00 to $38.00 while maintaining a “buy” rating on the stock in August of this year. Similarly, TheStreet downgraded the rating of the company from “c” to “d+” in July. Deutsche Bank Aktiengesellschaft also decreased its price target from $57.00 to $47.00 and kept a “buy” rating in August.
Citigroup’s analysts also revised their price objective from $33.79 to $32.00 in August. Despite these mixed opinions, six investment analysts have rated the stock as a buy, according to data from Bloomberg.com.
The Liberty SiriusXM Group operates primarily in the entertainment sector, providing various services such as music, sports, entertainment, comedy, talk shows, news updates, traffic reports, weather forecasts, podcasts and infotainment channels through satellite radio systems it owns. It also offers streaming services for mobile devices and home equipment.
In recent news related to the company’s top executives’ activities? CEO Gregory B. Maffei sold 5?182 shares of The Liberty SiriusXM Group stock in mid-August at an average price of $32.82 per share for a total value of around $170?073.
Additionally, Chairman John C. Malone sold 120?900 shares on August 9th at an average price of $70.89 per share for a total value of approximately $8?570?601.
Both transactions were disclosed in legal filings with the Securities & Exchange Commission (SEC) and can be accessed through the SEC website.
Overall? insiders sold a total of 287?867 shares valued at approximately $20?102?637 during the last quarter.
As for LSXMA’s stock performance on September 20th – the date set for reference – it opened at a price of $22.63 per share with a 50-day simple moving average of $26.58 and a 200-day simple moving average of $28.12.
Its 52-week range is between its low point of $22.01 and its high point of $26.94.
