Liberty Global (NASDAQ:LBTYA) Shares Gap Down After Analyst Downgrade

Liberty Global Ltd. (NASDAQ:LBTYA) shares gapped down before the market opened on Friday after Bank of America downgraded the stock from a neutral rating to an underperform rating. The stock had previously closed at $13.86, but opened at $13.43. Bank of America now has a $12.60 price target on the stock, down from their previous price target of $13.10. Liberty Global shares last traded at $13.43, with a volume of 1,371,962 shares traded.

LBTYA has been the subject of several other research reports. Barclays reduced their price target on shares of Liberty Global from $20.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 25th. Citigroup initiated coverage on shares of Liberty Global in a report on Friday, August 9th. They issued a “buy” rating and a $25.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Liberty Global from $38.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group downgraded Liberty Global from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $13.00 in a research note on Monday, November 18th. Finally, Benchmark reissued a “buy” rating and issued a $27.00 target price on shares of Liberty Global in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.94.

Insider Buying and Selling at Liberty Global

In other news, CFO Charles H. R. Bracken sold 84,103 shares of Liberty Global stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $14.56, for a total transaction of $1,224,539.68. Following the completion of the sale, the chief financial officer now directly owns 53,312 shares in the company, valued at approximately $776,222.72. This trade represents a 61.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Liberty Global

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Liberty Global by 2,799.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,646,088 shares of the company’s stock worth $98,079,000 after acquiring an additional 4,485,823 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Liberty Global by 212.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,289,441 shares of the company’s stock worth $57,336,000 after purchasing an additional 2,236,696 shares during the last quarter. Rubric Capital Management LP lifted its stake in Liberty Global by 43.7% in the 2nd quarter. Rubric Capital Management LP now owns 5,526,107 shares of the company’s stock valued at $96,320,000 after buying an additional 1,680,756 shares in the last quarter. State Street Corp grew its holdings in Liberty Global by 36.8% during the 3rd quarter. State Street Corp now owns 2,624,307 shares of the company’s stock valued at $55,399,000 after buying an additional 705,780 shares during the last quarter. Finally, ING Groep NV purchased a new position in Liberty Global during the third quarter worth $12,953,000. 37.20% of the stock is owned by hedge funds and other institutional investors.

Liberty Global Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $18.02 and a two-hundred day moving average price of $18.40. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -1.32 and a beta of 1.24.

About Liberty Global

Liberty Global Ltd., together with its subsidiaries, provides broadband internet, video, fixed-line telephony, and mobile communications services to residential and business customers. It offers value-added broadband services, such as WiFi features, security, anti-virus, firewall, spam protection, smart home services, online storage solutions, and web spaces; and Connect Box that delivers in-home Wi-Fi service.