Envestnet Asset Management Inc. Acquires 80,661 Shares of Liberty Global plc (NASDAQ:LBTYK)

Posted by Defense World Staff on Sep 2nd, 2023

Envestnet Asset Management Inc. increased its holdings in shares of Liberty Global plc (NASDAQ:LBTYK – Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,015,662 shares of the company’s stock after purchasing an additional 80,661 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of Liberty Global worth $20,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Industrial Alliance Investment Management Inc. bought a new position in shares of Liberty Global during the first quarter valued at $105,000. Rhumbline Advisers bought a new position in Liberty Global in the first quarter valued at about $208,000. Plancorp LLC bought a new position in Liberty Global in the first quarter valued at about $975,000. Citigroup Inc. lifted its holdings in Liberty Global by 99.7% in the first quarter. Citigroup Inc. now owns 195,440 shares of the company’s stock valued at $3,983,000 after acquiring an additional 97,553 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in Liberty Global by 16.7% in the first quarter. Guggenheim Capital LLC now owns 53,433 shares of the company’s stock valued at $1,089,000 after acquiring an additional 7,647 shares during the period. 49.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Andrea Salvato sold 50,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $18.93, for a total transaction of $946,500.00. Following the completion of the sale, the executive vice president now owns 121,905 shares in the company, valued at $2,307,661.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Andrea Salvato sold 50,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $18.93, for a total transaction of $946,500.00. Following the completion of the sale, the executive vice president now owns 121,905 shares in the company, valued at $2,307,661.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan H. Hall sold 5,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $19.82, for a total value of $99,100.00. Following the sale, the executive vice president now owns 133,902 shares of the company’s stock, valued at approximately $2,653,937.64. The disclosure for this sale can be found here. Insiders sold a total of 105,000 shares of company stock worth $1,916,100 over the last quarter. 9.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com assumed coverage on Liberty Global in a report on Thursday, August 17th. They issued a “sell” rating on the stock. Pivotal Research increased their target price on Liberty Global from $25.00 to $27.00 in a report on Tuesday, August 15th.

Read Our Latest Research Report on Liberty Global

Liberty Global Stock Performance

Shares of LBTYK opened at $19.22 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $19.11 and a two-hundred day simple moving average of $19.25. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 1.67 and a beta of 1.24. Liberty Global plc has a 52 week low of $16.16 and a 52 week high of $22.78.

Liberty Global (NASDAQ:LBTYK – Get Free Report) last issued its quarterly earnings results on Monday, July 24th. The company reported ($1.13) EPS for the quarter. The company had revenue of $1.85 billion during the quarter. Liberty Global had a negative return on equity of 15.74% and a negative net margin of 48.91%.

Liberty Global Company Profile

(Free Report)

Liberty Global plc, 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 intelligent WiFi features; internet services; security solutions, such as anti-virus, anti-spyware, firewall, and spam protection; smart home services; online storage solutions; web spaces; and Connect Box that delivers in-home Wi-Fi service.