Zacks Investment Research upgraded shares of Liberty Global PLC (NASDAQ:LBTYA) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $35.00 price objective on the stock.
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. Launch of Telenet Innovation Center will help the company create and test new products focused on new mobile technologies. Liberty Global launched a new customer-friendly app, Connect App. The launch of DOCSIS 3.1 network services, joint venture with Vodafone in Netherlands, buyout of UTV Ireland TV stations from ITV, takeover of Cable & Wireless bode well for the company's growth. On the other hand, Liberty Global’s predominant operation in Europe remains a major concern. Further, stiff competition in the video, broadband, fixed-line telephony and mobile services business, foreign exchange rate risks and integration risks are major risks. Over the past three months, the stock price declined 10.0% as against the industry’s loss of 12.0%.”
Several other equities analysts also recently commented on LBTYA. Jefferies Group LLC set a $42.00 price objective on shares of Liberty Global PLC and gave the company a buy rating in a research note on Monday. Barclays PLC upped their price objective on shares of Liberty Global PLC from $40.00 to $43.50 and gave the company an overweight rating in a research note on Monday, October 16th. Royal Bank Of Canada reaffirmed an outperform rating and set a $40.00 price objective on shares of Liberty Global PLC in a research note on Monday, October 2nd. Buckingham Research began coverage on shares of Liberty Global PLC in a research note on Friday, September 29th. They set a buy rating and a $44.00 price objective for the company. Finally, Macquarie downgraded shares of Liberty Global PLC from an outperform rating to a neutral rating in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Liberty Global PLC presently has an average rating of Buy and a consensus target price of $40.50.
Shares of Liberty Global PLC (NASDAQ:LBTYA) traded up 0.97% on Tuesday, reaching $31.15. The company had a trading volume of 901,216 shares. The company’s 50-day moving average is $32.54 and its 200-day moving average is $32.43. The company has a market capitalization of $31.26 billion, a PE ratio of 34.23 and a beta of 1.63. Liberty Global PLC has a one year low of $28.17 and a one year high of $37.69.
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In other Liberty Global PLC news, Director John C. Malone sold 90,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $30.44, for a total value of $2,739,600.00. Following the sale, the director now owns 4,975,876 shares in the company, valued at $151,465,665.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David E. Rapley sold 2,985 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $32.81, for a total transaction of $97,937.85. Following the completion of the sale, the director now owns 14,795 shares in the company, valued at approximately $485,423.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 272,985 shares of company stock valued at $8,734,338. 5.81% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in LBTYA. Standard Life Investments LTD purchased a new stake in Liberty Global PLC in the second quarter worth about $105,000. D.A. Davidson & CO. grew its holdings in Liberty Global PLC by 69.6% in the second quarter. D.A. Davidson & CO. now owns 3,348 shares of the company’s stock worth $107,000 after purchasing an additional 1,374 shares during the period. Commonwealth Bank of Australia grew its holdings in Liberty Global PLC by 96.7% in the second quarter. Commonwealth Bank of Australia now owns 4,712 shares of the company’s stock worth $150,000 after purchasing an additional 2,316 shares during the period. Jacobi Capital Management LLC grew its holdings in Liberty Global PLC by 1.1% in the second quarter. Jacobi Capital Management LLC now owns 5,093 shares of the company’s stock worth $162,000 after purchasing an additional 57 shares during the period. Finally, Simplex Trading LLC purchased a new stake in Liberty Global PLC in the second quarter worth about $164,000. Institutional investors and hedge funds own 22.09% of the company’s stock.
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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