ExodusPoint Capital Management LP, a global multi-strategy hedge fund, has recently gained traction in the market by increasing its position in Liberty Global Plc (NASDAQ:LBTYK). In a 13F filing with the Securities and Exchange Commission on June 11, 2023, ExodusPoint reported that it had increased its position in Liberty Global by a staggering 157.5% during the fourth quarter of last year. The hedge fund owned over 70,000 shares of the company’s stocks after acquiring 42,929 additional shares during this quarter. As of this recent filing with the SEC, ExodusPoint’s holdings in Liberty Global stand at an impressive $1,364,000.
Liberty Global operates as an international converged fixed and mobile communications company that provides connectivity and entertainment services to its customers. The company operates primarily across five geographical segments: Switzerland, Belgium, U.K., Ireland and Central & Other. With its cutting-edge technologies and efficient customer service support system, Liberty Global has become one of the leading providers of internet and cable TV services worldwide.
In other news surrounding Liberty Global Plc, Bryan H. Hall – the Executive Vice-President (EVP) – recently sold a substantial number of shares held in the corporation’s stock. According to documents filed with the SEC website on March 30th and March 28th respectively, Hall disposed approximately $120k worth of shares through two different transactions at average prices of $20.04 and $19.77 per share. Following these transactions Hall now owns around two million dollars worth of equity within his role as EVP.
While it is not uncommon for insiders to sell their stock in any given company from time to time – particularly when executing orderly estate planning or speculative trades – this announcement may have led some investors to question what implications it may have for other stakeholders involved with Liberty Global if major insiders appear to be shedding significant positions within limited periods.
In recent years, ExodusPoint Capital Management LP has risen to prominence as one of the most successful hedge funds in the world. This latest move to amplify its position within Liberty Global Plc is yet another example of how adept the firm is when it comes to making strategic financial plays. As for the future of Liberty Global, only time will tell whether or not ExodusPoint’s bullish position – and Hall’s apparent scepticism – were astute predictions for growth or decline respectively. Nevertheless, the world of finance remains unpredictable and any future measures shall be met with equal intrigue from investors and industry professionals alike.
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Hedge Funds and Institutional Investors Dominate Ownership of Liberty Global Stock
As of June 11, 2023, hedge funds and other institutional investors own a total of 52.24% of Liberty Global’s stock. These funds include Amalgamated Bank, Exchange Traded Concepts LLC, Franklin Resources Inc., VisionPoint Advisory Group LLC, and Vanguard Personalized Indexing Management LLC.
Amalgamated Bank recently increased their stake in Liberty Global by an impressive 318.0% in the third quarter, now owning over 2,700 shares worth $45,000. Similarly, Exchange Traded Concepts LLC purchased a new position in the company during the fourth quarter for $67,000. Franklin Resources Inc. also increased their position by 35.6% during the same quarter and now owns over 10,000 shares worth $202,000.
VisionPoint Advisory Group LLC made a significant purchase in the third quarter with shares valued at around $205,000 while Vanguard Personalized Indexing Management LLC acquired new positions in the fourth quarter worth approximately $220,000.
Liberty Global has been the subject of several research analyst reports that have recently come to light. Pivotal Research cut its target price on LBTYK from $33 to $30 but set a “buy” rating on the stock in its report issued on April 17th. Meanwhile, StockNews.com downgraded Liberty Global from a “hold” rating to a “sell” rating on May 12th.
On Friday morning of last week (June 9th), LBTYK opened at $17.74 with a market cap of $7.90 billion and a P/E ratio of just 1.56 – certainly making this an intriguing stock option for those considering investment opportunities. The company’s beta is currently sitting at around 1.24 with its fifty-two-week low being recorded as $16.16 and its fifty-two-week high coming in at just under $24.
Liberty Global’s current ratio is in line with quick ratios set at 1.53 and the debt-to-equity ratio sits at a comfortable 0.64. Its moving averages are currently at $18.90 for its 50-day and $20.05 for its 200-day, indicating a potential buying opportunity for those considering long-term investments in what could be an undervalued stock.