Liberty Global PLC (LBTYA) Stock Rating Lowered by Zacks Investment Research
Liberty Global PLC (NASDAQ:LBTYA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Over the past three months, the share price of Liberty Global was down 4.89% compared with the Zacks Cable TV industry's loss of 0.02%. Moreover, Liberty Global’s predominant operation in Europe is a major concern because of recessionary pressure, debt crisis and low per capita income in some European countries. Further, stiff competition in the video, broadband, fixed-line telephony and mobile services business, foreign exchange rate risks and integration risks are major headwinds. On the other hand, Liberty Global continues to grow in the Europe and Central America through several mergers and acquisitions and is looking for more takeover options to expand its footprint. The launch of DOCSIS 3.1 network services, joint venture with Vodafone in Netherlands, acquisition of UTV Ireland TV stations from ITV, takeover of Cable & Wireless bode well for the company's growth.”
Other equities analysts have also recently issued research reports about the company. Macquarie reissued a “buy” rating and issued a $36.00 price target (down previously from $40.00) on shares of Liberty Global PLC in a research note on Wednesday, June 21st. Jefferies Group LLC set a $43.00 price target on Liberty Global PLC and gave the stock a “buy” rating in a research note on Saturday, June 17th. UBS Group AG assumed coverage on Liberty Global PLC in a research note on Friday, June 16th. They issued a “neutral” rating and a $31.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $42.00 price target on shares of Liberty Global PLC in a research note on Monday, May 15th. Finally, Pivotal Research dropped their price target on Liberty Global PLC from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $39.92.
Liberty Global PLC (NASDAQ LBTYA) traded down 0.64% during midday trading on Tuesday, hitting $32.67. 1,445,469 shares of the company’s stock traded hands. Liberty Global PLC has a 52 week low of $28.17 and a 52 week high of $37.69. The company has a market capitalization of $33.64 billion, a PE ratio of 19.65 and a beta of 1.66. The company has a 50 day moving average of $30.15 and a 200-day moving average of $33.41.
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In other news, Director John C. Malone purchased 223,186 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was acquired at an average price of $21.76 per share, with a total value of $4,856,527.36. Following the purchase, the director now owns 761,816 shares in the company, valued at approximately $16,577,116.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Malone purchased 139,052 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was purchased at an average cost of $21.74 per share, with a total value of $3,022,990.48. Following the purchase, the director now owns 761,816 shares in the company, valued at approximately $16,561,879.84. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,610,000 shares of company stock valued at $37,412,081. 5.81% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in LBTYA. Dodge & Cox bought a new stake in Liberty Global PLC during the fourth quarter valued at $493,918,000. BlackRock Inc. raised its stake in Liberty Global PLC by 2,739.9% in the first quarter. BlackRock Inc. now owns 10,201,377 shares of the company’s stock valued at $365,923,000 after buying an additional 9,842,167 shares during the period. Airain ltd raised its stake in Liberty Global PLC by 5,464.3% in the first quarter. Airain ltd now owns 491,220 shares of the company’s stock valued at $17,620,000 after buying an additional 482,392 shares during the period. Quest Investment Management LLC bought a new stake in Liberty Global PLC during the first quarter valued at $13,731,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Liberty Global PLC during the first quarter valued at $13,188,000. 23.57% of the stock is owned by institutional investors and hedge funds.
About Liberty Global PLC
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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