Pivotal Research reaffirmed their buy rating on shares of Liberty Global (NASDAQ:LBTYA) in a research report sent to investors on Thursday morning. Pivotal Research currently has a $32.00 price objective on the stock.
“We updated our financial forecasts for the company’s 10-K and to adjust forecasts for the already announced attractive sale of Liberty Swiss assets for ~10X ’19 EBITDA. The decision to sell Switzerland marks the 3 rd major disposition of assets (all at low double digit multiples) a material premium to Liberty Global’s valuation and in our view increases the odds of an outright sale of the balance of Liberty Global’s asset base.”,” the firm’s analyst wrote.
Several other equities analysts have also commented on LBTYA. Zacks Investment Research lowered Liberty Global from a hold rating to a sell rating in a research note on Tuesday, November 27th. ValuEngine lowered Liberty Global from a hold rating to a sell rating in a research note on Wednesday, January 2nd. BidaskClub lowered Liberty Global from a hold rating to a sell rating in a research note on Friday, December 7th. HSBC set a $32.00 price target on Liberty Global and gave the company a buy rating in a research note on Tuesday, January 29th. Finally, Barclays restated a buy rating on shares of Liberty Global in a research note on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Liberty Global has an average rating of Hold and a consensus price target of $34.44.
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Liberty Global by 326.5% in the third quarter. Vanguard Group Inc. now owns 13,327,704 shares of the company’s stock valued at $377,705,000 after purchasing an additional 10,202,577 shares during the last quarter. AMF Pensionsforsakring AB purchased a new position in Liberty Global in the fourth quarter valued at about $15,346,000. Mackenzie Financial Corp grew its stake in Liberty Global by 8.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,006,511 shares of the company’s stock valued at $85,499,000 after purchasing an additional 297,280 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Liberty Global in the third quarter valued at about $11,172,000. Finally, Virtu Financial LLC purchased a new position in Liberty Global in the fourth quarter valued at about $381,000. Institutional investors own 22.73% of the company’s stock.
Liberty Global Company Profile
Liberty Global plc, together with its subsidiaries, provides video, broadband Internet, fixed-line telephony, mobile, and other communications services to residential customers and businesses in Europe. It offers video services, including digital video programming and audio services starting with a basic video service, video-on-demand, electronic programming guide, various premium channel packages, digital video recorders, various mobile applications, and set-top boxes.
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