Liberty Global (NASDAQ:LILAK) Stock Price Up 8% – Here’s Why

Liberty Global PLC (NASDAQ:LILAK) was up 8% during trading on Tuesday . The company traded as high as $8.24 and last traded at $8.2950. 348,774 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,101,165 shares. The stock had previously closed at $7.68.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LILAK. Wall Street Zen lowered Liberty Global from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Liberty Global in a research report on Friday, July 17th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $8.00 price target (up from $6.45) on shares of Liberty Global in a research note on Friday, July 10th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $8.10.

Liberty Global Price Performance

The company has a market capitalization of $1.65 billion, a P/E ratio of -3.31 and a beta of 0.72. The business’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $7.82.

Liberty Global (NASDAQ:LILAK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Liberty Global had a negative net margin of 11.20% and a negative return on equity of 43.70%.

Insider Buying and Selling

In other Liberty Global news, Director Charles H. R. Bracken bought 4,900 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $20.50 per share, with a total value of $100,450.00. Following the purchase, the director owned 18,867 shares in the company, valued at $386,773.50. This trade represents a 35.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John M. Winter bought 5,071 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average cost of $19.67 per share, with a total value of $99,746.57. Following the completion of the purchase, the senior vice president owned 64,547 shares in the company, valued at $1,269,639.49. This represents a 8.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 14,820,228 shares of company stock valued at $121,249,631. 9.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LILAK. EverSource Wealth Advisors LLC raised its stake in shares of Liberty Global by 377.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,136 shares of the company’s stock valued at $28,000 after purchasing an additional 2,479 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Liberty Global during the second quarter worth about $30,000. Headlands Technologies LLC grew its holdings in shares of Liberty Global by 85.9% during the second quarter. Headlands Technologies LLC now owns 8,515 shares of the company’s stock worth $53,000 after buying an additional 3,934 shares in the last quarter. Xponance LLC bought a new position in shares of Liberty Global during the fourth quarter worth about $75,000. Finally, CIBC Asset Management Inc acquired a new stake in Liberty Global in the 4th quarter valued at approximately $84,000. Institutional investors and hedge funds own 52.98% of the company’s stock.

Liberty Global Company Profile

Liberty Global plc is a leading international telecommunications and television company, offering video, broadband Internet, fixed-line and mobile services to residential and business customers. Headquartered in London and operating as an ADR on the NASDAQ under the ticker LILAK, the company focuses on developing advanced broadband networks and delivering entertainment and connectivity solutions across Europe.

The company’s core products include high-speed cable broadband, digital and interactive television, fixed-line telephony, and mobile services.