Liberty Global (NASDAQ:LILAK) Sees Unusually-High Trading Volume on Analyst Upgrade

Liberty Global PLC (NASDAQ:LILAK) saw unusually-high trading volume on Friday after Citigroup raised their price target on the stock from $9.00 to $11.00. Citigroup currently has a neutral rating on the stock. Approximately 2,093,597 shares changed hands during trading, an increase of 67% from the average daily volume of 1,253,111 shares. The stock last traded at $9.8480 and had previously closed at $9.77.

LILAK has been the topic of a number of other reports. UBS Group began coverage on shares of Liberty Global in a report on Thursday, September 3rd. They set a “neutral” rating and a $9.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Liberty Global in a report on Thursday, October 15th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $10.00.

Insider Buying and Selling

In other news, Director Angoitia Alfonso De purchased 313,104 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of $20.95 per share, for a total transaction of $6,559,528.80. Following the completion of the transaction, the director owned 476,190 shares of the company’s stock, valued at $9,976,180.50. This trade represents a 191.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Malone acquired 3,057 shares of Liberty Global stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $20.08 per share, with a total value of $61,384.56. Following the completion of the purchase, the director owned 3,057 shares in the company, valued at $61,384.56. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 689,542 shares of company stock worth $12,644,692 over the last ninety days. Corporate insiders own 9.66% of the company’s stock.

Institutional Investors Weigh In On Liberty Global

A number of large investors have recently modified their holdings of LILAK. Dimensional Fund Advisors LP lifted its stake in shares of Liberty Global by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,687,133 shares of the company’s stock worth $85,439,000 after buying an additional 129,952 shares in the last quarter. Rubric Capital Management LP boosted its position in Liberty Global by 44.5% during the first quarter. Rubric Capital Management LP now owns 15,395,430 shares of the company’s stock worth $135,788,000 after acquiring an additional 4,738,495 shares during the last quarter. Squarepoint Ops LLC boosted its position in Liberty Global by 383.8% during the second quarter. Squarepoint Ops LLC now owns 111,243 shares of the company’s stock worth $867,000 after acquiring an additional 88,248 shares during the last quarter. Bank of America Corp DE grew its stake in Liberty Global by 26.7% during the 1st quarter. Bank of America Corp DE now owns 467,627 shares of the company’s stock valued at $4,124,000 after acquiring an additional 98,507 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Liberty Global by 9.8% during the 1st quarter. First Trust Advisors LP now owns 744,252 shares of the company’s stock valued at $6,564,000 after acquiring an additional 66,209 shares in the last quarter. Hedge funds and other institutional investors own 52.98% of the company’s stock.

Liberty Global Stock Performance

The company has a market cap of $1.91 billion, a PE ratio of -10.49 and a beta of 0.75. The firm’s 50 day moving average is $8.55 and its 200-day moving average is $8.10.

Liberty Global (NASDAQ:LILAK) last released its earnings results on Wednesday, November 4th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.41). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Global had a negative return on equity of 8.50% and a negative net margin of 3.86%.

Liberty Global Company Profile

Liberty Global plc is an international telecommunications and media company that provides broadband, mobile, television and related digital services through operating companies and joint ventures. Its businesses serve customers in several European markets, including the United Kingdom, Belgium, the Netherlands and Switzerland. Its operations include Virgin Media O2 in the UK, a joint venture with Telefónica; VodafoneZiggo in the Netherlands, also a joint venture; and businesses such as Telenet in Belgium and Sunrise in Switzerland.