Aristeia Capital L.L.C. Cuts Holdings in The Liberty SiriusXM Group (NASDAQ:LSXMA)

Aristeia Capital L.L.C. reduced its position in shares of The Liberty SiriusXM Group (NASDAQ:LSXMA) by 90.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,283 shares of the technology company’s stock after selling 2,565,497 shares during the quarter. Aristeia Capital L.L.C.’s holdings in The Liberty SiriusXM Group were worth $6,142,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Point72 Asset Management L.P. raised its holdings in The Liberty SiriusXM Group by 7.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,620,134 shares of the technology company’s stock worth $75,303,000 after purchasing an additional 190,608 shares during the period. Virtu Financial LLC raised its stake in shares of The Liberty SiriusXM Group by 82.5% during the 4th quarter. Virtu Financial LLC now owns 107,556 shares of the technology company’s stock worth $3,091,000 after buying an additional 48,608 shares during the period. Cadian Capital Management LP lifted its position in shares of The Liberty SiriusXM Group by 35.2% during the 4th quarter. Cadian Capital Management LP now owns 1,474,376 shares of the technology company’s stock valued at $42,374,000 after buying an additional 384,000 shares in the last quarter. Norges Bank acquired a new stake in The Liberty SiriusXM Group in the 4th quarter valued at $16,397,000. Finally, Boston Partners purchased a new stake in The Liberty SiriusXM Group in the 1st quarter worth $9,499,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI reaffirmed an “in-line” rating and set a $27.00 price objective (down from $36.00) on shares of The Liberty SiriusXM Group in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Liberty SiriusXM Group from $34.00 to $31.50 and set a “buy” rating on the stock in a research note on Monday, June 17th. Finally, Benchmark reiterated a “buy” rating and set a $54.00 price objective on shares of The Liberty SiriusXM Group in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, The Liberty SiriusXM Group currently has an average rating of “Moderate Buy” and an average price target of $35.13.

The Liberty SiriusXM Group Stock Down 1.2 %

Shares of LSXMA opened at $22.29 on Tuesday. The Liberty SiriusXM Group has a 52-week low of $20.13 and a 52-week high of $31.69. The stock has a market cap of $7.28 billion and a PE ratio of 9.17. The firm’s fifty day moving average is $22.49 and its two-hundred day moving average is $23.89.

The Liberty SiriusXM Group (NASDAQ:LSXMA) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.02). The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.21 billion. As a group, research analysts anticipate that The Liberty SiriusXM Group will post 2.49 earnings per share for the current year.

About The Liberty SiriusXM Group

The Liberty SiriusXM Group, through its subsidiaries, engages in the entertainment business in the United States, the United Kingdom, and internationally. It features music, sports, entertainment, comedy, talk, news, traffic, weather channels, podcast, and infotainment services through proprietary satellite radio systems, as well as streamed through SXM App for mobile and home devices, and other consumer electronic equipment.