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

Liberty Global Ltd. (NASDAQ:LBTYA) gapped down prior to trading 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.

Other research analysts also recently issued reports about the stock. Citigroup assumed coverage on shares of Liberty Global in a research note on Friday, August 9th. They issued a “buy” rating and a $25.00 target price for the company. UBS Group lowered Liberty Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $13.00 in a report on Monday, November 18th. Benchmark reaffirmed a “buy” rating and set a $27.00 target price on shares of Liberty Global in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Liberty Global from $38.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Barclays lowered their target price on shares of Liberty Global from $20.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.94.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

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

Liberty Global Price Performance

The company has a market cap of $4.80 billion, a price-to-earnings ratio of -1.37 and a beta of 1.24. The company’s 50 day moving average price is $18.17 and its 200-day moving average price is $18.42. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19.

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.