On September 10, 2023, it was reported that the Healthcare of Ontario Pension Plan Trust Fund has increased its stake in shares of The Liberty SiriusXM Group (NASDAQ:LSXMK). According to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), the fund now owns 581,000 shares of the technology company’s stock. This represents a growth of 12.2% during the first quarter, as the fund purchased an additional 63,300 shares during this period. It is estimated that Healthcare of Ontario Pension Plan Trust Fund now holds approximately 0.18% of The Liberty SiriusXM Group’s total worth, which amounts to $16,262,000.
The Liberty SiriusXM Group operates in the entertainment industry in both the United States and Canada. The company provides a wide range of services including music, sports, entertainment, comedy, talk shows, news updates, traffic reports, weather forecasts, podcasts and infotainment through its satellite radio systems. These services can also be streamed through various applications for mobile devices, home devices and other consumer electronic equipment.
This increase in stake by Healthcare of Ontario Pension Plan Trust Fund demonstrates their confidence in The Liberty SiriusXM Group’s future prospects. The healthcare pension plan believes that investing in this technology company aligns with their investment strategy and will yield positive returns over time.
It is important to note that these figures come from Form 13F filings with the Securities and Exchange Commission (SEC) and are based on data up until the most recent filing date available. Investors should consider conducting further research and analysis before making any investment decisions based on these numbers.
In conclusion, Healthcare of Ontario Pension Plan Trust Fund has grown its stake in The Liberty SiriusXM Group by 12.2% during the first quarter of this year. With a total holding of 581,000 shares valued at approximately $16 million, it is evident that the healthcare pension plan sees potential in this technology company’s entertainment services.
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Potential Shifts in Holdings and Investments: The Liberty SiriusXM Group
The Liberty SiriusXM Group, a prominent entertainment company based in the United States and Canada, has recently seen some significant changes in its holdings and investments. Several institutional investors and hedge funds have altered their positions in the company’s stock, indicating potential shifts in the market.
One notable example is Cambridge Investment Research Advisors Inc., which acquired a new stake in The Liberty SiriusXM Group during the first quarter of this year. The value of this stake amounted to approximately $207,000. Similarly, Citigroup Inc. increased its holdings in the technology company by 22.7% during the same period, now owning 94,617 shares valued at $4,327,000.
MetLife Investment Management LLC also purchased a new position in The Liberty SiriusXM Group worth $146,000 in the first quarter. On the other hand, BlackRock Inc., one of the largest investment management companies globally, saw a slight growth of 0.5% in its holdings of The Liberty SiriusXM Group’s shares. BlackRock now possesses 10,572,200 shares valued at $483,466,000.
Additionally, Great West Life Assurance Co. Can experienced a minimal increase of 0.3% in its holdings during the first quarter. The company now owns 131,039 shares worth $6,355,000. Despite these changes from institutional investors mentioned above collectively representing merely 0.27% of total ownership.
These modifications raise questions about future insights into The Liberty SiriusXM Group’s performance and potential changes within its leadership or strategic direction.
Research analysts have also shared their opinions on LSXMK shares lately. Pivotal Research reduced their target price for The Liberty SiriusXM Group from $36 to $34 on August 7th this year. Likewise, TheStreet downgraded the company from a “c” rating to a “d+” rating on July 20th.
Morgan Stanley followed suit by dropping their price objective on the technology company’s stock from $36 to $24, giving it an “equal weight” rating. Similarly, Rosenblatt Securities reduced their price objective further to $43 from $53, maintaining a “buy” recommendation. The latest coverage came from StockNews.com on August 17th, where they provided a “hold” rating for the company.
The Liberty SiriusXM Group specializes in providing music, sports, entertainment, comedy, talk shows, news programs, traffic information, weather updates, podcasts, and infotainment services through its proprietary satellite radio systems and various applications for mobile and home devices. It also caters to a wide range of consumer electronics.
As of September 10th this year, NASDAQ LSXMK opened at $23.15 per share. The company’s fifty-day moving average stands at $28.17, while the two-hundred-day moving average is slightly higher at $28.59. Over the past year, The Liberty SiriusXM Group traded between a low of $22.24 and a high of $26.85.
In recent notable news related to the company’s leadership and insider trading activity, Chairman John C. Malone purchased 140,000 shares of The Liberty SiriusXM Group stock on August 7th at an average cost of $35.70 per share. This transaction amounted to a total value of approximately $4,998,000.
Following this acquisition by Malone as well as his previous purchasing activities in early August that totaled 140k shares again (as disclosed in filings with the Securities & Exchange Commission), he now possesses 3,658453 shares valued at around $130607486.
Furthermore Chairman John C Malone managed to sell 120631 shares on August 11th which brought him around171 million dollars.
These recent developments among institutional investors and analysts’ ratings reflect changing sentiments towards The Liberity SiriusXM Group. Investors and industry experts are keen to observe how these alterations may shape the company’s future performance and optimize their investment strategies accordingly.
