California Public Employees Retirement System Has $8.92 Million Stock Position in Liberty Global plc (NASDAQ:LBTYA)
California Public Employees Retirement System raised its stake in Liberty Global plc (NASDAQ:LBTYA) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,496 shares of the company’s stock after buying an additional 10,035 shares during the period. California Public Employees Retirement System owned 0.07% of Liberty Global worth $8,919,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of LBTYA. Profund Advisors LLC raised its stake in Liberty Global by 32.1% in the 2nd quarter. Profund Advisors LLC now owns 15,717 shares of the company’s stock valued at $344,000 after purchasing an additional 3,818 shares during the last quarter. GAM Holding AG grew its position in Liberty Global by 456,991.7% during the 2nd quarter. GAM Holding AG now owns 54,851 shares of the company’s stock valued at $1,199,000 after purchasing an additional 54,839 shares during the last quarter. Swiss National Bank grew its position in Liberty Global by 1.5% during the 2nd quarter. Swiss National Bank now owns 643,304 shares of the company’s stock valued at $14,063,000 after purchasing an additional 9,300 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Liberty Global by 24.6% during the 2nd quarter. ProShare Advisors LLC now owns 112,868 shares of the company’s stock valued at $2,467,000 after acquiring an additional 22,258 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Liberty Global during the 2nd quarter valued at about $652,000. Hedge funds and other institutional investors own 23.89% of the company’s stock.
Liberty Global stock opened at $22.63 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.99 and a current ratio of 1.99. The business’s 50-day simple moving average is $20.82 and its 200-day simple moving average is $21.89. The firm has a market capitalization of $13.20 billion, a PE ratio of -6.90 and a beta of 1.27. Liberty Global plc has a 52 week low of $15.23 and a 52 week high of $24.13.
Liberty Global announced that its board has authorized a share repurchase plan on Wednesday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $25.00 price objective on shares of Liberty Global in a report on Friday, September 18th. Pivotal Research lifted their price objective on shares of Liberty Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. ValuEngine raised shares of Liberty Global from a “hold” rating to a “buy” rating in a research note on Sunday, November 8th. Bank of America lifted their price objective on shares of Liberty Global from $32.40 to $36.60 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Barclays raised shares of Liberty Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $18.00 to $30.00 in a research note on Monday, September 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.31.
In related news, Director John C. Malone sold 155,178 shares of Liberty Global stock in a transaction dated Wednesday, November 18th. The stock was sold at an average price of $22.27, for a total transaction of $3,455,814.06. Following the sale, the director now directly owns 4,820,698 shares of the company’s stock, valued at $107,356,944.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc sold 1,300,000 shares of Liberty Global stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $22.31, for a total value of $29,003,000.00. The disclosure for this sale can be found here. Insiders sold 1,475,178 shares of company stock worth $32,923,814 over the last quarter. 8.14% of the stock is currently owned by corporate insiders.
Liberty Global Profile
Liberty Global plc, together with its subsidiaries, provides video, broadband Internet, fixed-line telephony, mobile, and other communications services to residential customers and businesses in Europe. It offers Wi-Fi and Internet services, such as email, address book, and parental controls; security; online storage solutions and Web spaces; and Connect Box, a connectivity device that delivers in-home Wi-Fi coverage.
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