Zacks Investment Research cut shares of Liberty Sirius XM Group Series C (NASDAQ:LSXMK) from a strong-buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “The Liberty SiriusXM Group provides satellite radio services consists of commercial-free music, sports, news, talk, entertainment, traffic and weather. The Liberty SiriusXM Group is based in United States. “

Shares of LSXMK stock opened at $40.66 on Wednesday. Liberty Sirius XM Group Series C has a 12 month low of $34.84 and a 12 month high of $47.75. The firm has a market cap of $8.19 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. The stock has a 50 day moving average of $40.13 and a 200-day moving average of $39.42.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Liberty Sirius XM Group Series C by 69.6% during the second quarter. JPMorgan Chase & Co. now owns 5,093,425 shares of the technology company’s stock valued at $191,105,000 after purchasing an additional 2,090,241 shares during the period. First Manhattan Co. increased its position in shares of Liberty Sirius XM Group Series C by 150.9% during the second quarter. First Manhattan Co. now owns 2,728,108 shares of the technology company’s stock valued at $103,613,000 after purchasing an additional 1,640,820 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Liberty Sirius XM Group Series C during the second quarter valued at approximately $25,050,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Liberty Sirius XM Group Series C during the second quarter valued at approximately $15,403,000. Finally, Balyasny Asset Management LLC increased its position in shares of Liberty Sirius XM Group Series C by 620.8% during the second quarter. Balyasny Asset Management LLC now owns 437,802 shares of the technology company’s stock valued at $16,628,000 after purchasing an additional 377,064 shares during the period. Institutional investors own 77.92% of the company’s stock.

Liberty Sirius XM Group Series C Company Profile

The Liberty SiriusXM Group, through its subsidiary, Sirius XM Holdings Inc, transmits music, sports, entertainment, comedy, talk, news, traffic, and weather channels in the United States and Canada. The company also provides infotainment services; and streaming services through applications for mobile and home devices, and other consumer electronic equipment, as well as online.

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