Liberty Global’s (LILAK) Neutral Rating Reaffirmed at Citigroup

Citigroup reissued their neutral rating on shares of Liberty Global (NASDAQ:LILAK) in a research note released on Friday morning, Marketbeat Ratings reports. They currently have a $8.00 target price on the stock, up from their previous target price of $6.45.

A number of other research analysts have also recently issued reports on LILAK. Wall Street Zen cut Liberty Global from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Liberty Global in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.10.

Liberty Global Stock Performance

Shares of NASDAQ:LILAK traded down $0.04 during midday trading on Friday, reaching $7.23. 1,536,132 shares of the company’s stock were exchanged, compared to its average volume of 2,189,539. The company’s 50 day simple moving average is $7.49 and its two-hundred day simple moving average is $7.80. The firm has a market capitalization of $1.46 billion, a PE ratio of -2.92 and a beta of 0.72. Liberty Global has a 12 month low of $4.76 and a 12 month high of $9.13.

Liberty Global (NASDAQ:LILAK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.15). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Liberty Global had a negative net margin of 11.20% and a negative return on equity of 43.70%.

Insiders Place Their Bets

In other Liberty Global news, CEO Balan Nair bought 164,914 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $6.07 per share, for a total transaction of $1,001,027.98. Following the completion of the acquisition, the chief executive officer owned 3,276,798 shares of the company’s stock, valued at approximately $19,890,163.86. This trade represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brendan J. Paddick bought 100,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was acquired at an average price of $4.88 per share, with a total value of $488,000.00. Following the completion of the purchase, the director owned 1,559,542 shares of the company’s stock, valued at $7,610,564.96. This represents a 6.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 14,820,228 shares of company stock worth $121,249,631 in the last three months. Company insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Liberty Global

Institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP lifted its position in shares of Liberty Global by 44.5% during the first quarter. Rubric Capital Management LP now owns 15,395,430 shares of the company’s stock worth $135,788,000 after purchasing an additional 4,738,495 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Liberty Global by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,687,133 shares of the company’s stock worth $85,439,000 after purchasing an additional 129,952 shares during the last quarter. Oaktree Capital Management LP lifted its holdings in Liberty Global by 186.4% during the 3rd quarter. Oaktree Capital Management LP now owns 6,669,823 shares of the company’s stock worth $56,293,000 after buying an additional 4,341,307 shares in the last quarter. Fourth Sail Capital LP boosted its position in Liberty Global by 22.6% in the 4th quarter. Fourth Sail Capital LP now owns 2,895,728 shares of the company’s stock valued at $21,602,000 after buying an additional 533,221 shares during the last quarter. Finally, Alta Fundamental Advisers LLC boosted its position in Liberty Global by 10.8% in the 4th quarter. Alta Fundamental Advisers LLC now owns 2,053,559 shares of the company’s stock valued at $15,320,000 after buying an additional 200,000 shares during the last quarter. 52.98% of the stock is owned by institutional investors.

Liberty Global Company Profile

Liberty Global plc is a leading international telecommunications and television company, offering video, broadband Internet, fixed-line and mobile services to residential and business customers. Headquartered in London and operating as an ADR on the NASDAQ under the ticker LILAK, the company focuses on developing advanced broadband networks and delivering entertainment and connectivity solutions across Europe.

The company’s core products include high-speed cable broadband, digital and interactive television, fixed-line telephony, and mobile services.