Liberty Global plc – Class A (LBTYA) Sees Large Volume Increase on Analyst Upgrade
Liberty Global plc – Class A (NASDAQ:LBTYA) shares saw unusually-high trading volume on Monday after Buckingham Research raised their price target on the stock from $44.00 to $50.00. Buckingham Research currently has a buy rating on the stock. Approximately 2,889,341 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 2,124,554 shares.The stock last traded at $37.39 and had previously closed at $38.49.
LBTYA has been the subject of a number of other research reports. Barclays raised their price objective on Liberty Global plc – Class A from $40.00 to $43.50 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Zacks Investment Research raised Liberty Global plc – Class A from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, October 31st. Morgan Stanley upgraded Liberty Global plc – Class A from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective for the company in a research note on Wednesday, January 17th. BidaskClub upgraded Liberty Global plc – Class A from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Pivotal Research reiterated a “buy” rating and set a $44.00 price objective on shares of Liberty Global plc – Class A in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Liberty Global plc – Class A has a consensus rating of “Buy” and an average price target of $39.95.
In other news, Director Miranda Curtis sold 88,361 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $21.63, for a total transaction of $1,911,248.43. Following the transaction, the director now directly owns 218 shares in the company, valued at approximately $4,715.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Charles H. R. Bracken sold 14,525 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $21.11, for a total value of $306,622.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,911 shares of company stock valued at $3,887,646. 5.81% of the stock is owned by company insiders.
The stock has a market capitalization of $8,510.00, a price-to-earnings ratio of 42.82 and a beta of 1.57. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.64.
Liberty Global plc – Class A declared that its board has authorized a stock buyback plan on Monday, December 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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Liberty Global plc – Class A Company Profile
Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.
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