Liberty Global PLC (LBTYA) Upgraded by Zacks Investment Research to Hold
Liberty Global PLC (NASDAQ:LBTYA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “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. Over the past three months, the share price of Liberty Global inched up 0.61% but failed to beat the industry's gain of 1.98%. On the other hand, 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. “
Several other research analysts have also recently weighed in on LBTYA. Jefferies Group LLC boosted their price target on Liberty Global PLC from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 4th. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 price target on shares of Liberty Global PLC in a research note on Friday, May 5th. Macquarie restated a “buy” rating and issued a $40.00 price target on shares of Liberty Global PLC in a research note on Monday, May 8th. Pivotal Research decreased their price target on Liberty Global PLC from $47.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, May 10th. Finally, TheStreet cut Liberty Global PLC from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Liberty Global PLC currently has an average rating of “Buy” and an average price target of $39.92.
Shares of Liberty Global PLC (LBTYA) traded up 0.38% during midday trading on Friday, hitting $34.61. The stock had a trading volume of 1,788,178 shares. The stock’s 50-day moving average is $31.52 and its 200-day moving average is $33.57. The stock has a market cap of $35.63 billion, a PE ratio of 20.81 and a beta of 1.67. Liberty Global PLC has a 12 month low of $28.17 and a 12 month high of $37.69.
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In related news, Director John C. Malone purchased 223,186 shares of the business’s stock in a transaction 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 completion of the acquisition, the director now owns 761,816 shares of the company’s stock, valued at approximately $16,577,116.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Malone purchased 139,052 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were bought at an average cost of $21.74 per share, with a total value of $3,022,990.48. Following the acquisition, the director now directly owns 761,816 shares of the company’s stock, valued at approximately $16,561,879.84. The disclosure for this purchase can be found here. Insiders have acquired 1,610,000 shares of company stock valued at $37,412,081 in the last three months. 3.93% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership raised its position in Liberty Global PLC by 0.7% in the first quarter. Artisan Partners Limited Partnership now owns 10,900,902 shares of the company’s stock worth $391,015,000 after buying an additional 76,709 shares during the period. BlackRock Inc. raised its position 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 worth $365,923,000 after buying an additional 9,842,167 shares during the period. Geode Capital Management LLC raised its position in Liberty Global PLC by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,742,676 shares of the company’s stock worth $62,483,000 after buying an additional 51,073 shares during the period. Gabelli Funds LLC raised its position in Liberty Global PLC by 2.0% in the first quarter. Gabelli Funds LLC now owns 1,555,072 shares of the company’s stock worth $55,780,000 after buying an additional 31,000 shares during the period. Finally, Beck Mack & Oliver LLC raised its position in Liberty Global PLC by 25.1% in the second quarter. Beck Mack & Oliver LLC now owns 1,541,373 shares of the company’s stock worth $49,509,000 after buying an additional 308,913 shares during the period. 22.70% 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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