Liberty Global (NASDAQ:LILAK) Issues Quarterly Earnings Results

Liberty Global (NASDAQ:LILAKGet Free Report) posted its earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15), Zacks reports. Liberty Global had a negative net margin of 11.20% and a negative return on equity of 43.70%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion.

Liberty Global Stock Up 3.3%

Shares of LILAK stock traded up $0.28 during mid-day trading on Thursday, hitting $8.54. 1,671,185 shares of the company’s stock were exchanged, compared to its average volume of 1,118,104. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -3.44 and a beta of 0.71. Liberty Global has a fifty-two week low of $4.76 and a fifty-two week high of $9.13. The stock has a 50-day simple moving average of $7.42 and a two-hundred day simple moving average of $7.85.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LILAK. Wall Street Zen downgraded Liberty Global from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Global in a report on Friday, July 17th. Finally, Citigroup restated a “neutral” rating and issued a $8.00 price objective (up from $6.45) on shares of Liberty Global in a research report on Friday, July 10th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $8.10.

Get Our Latest Analysis on LILAK

Insider Transactions at Liberty Global

In related news, Director Brendan J. Paddick acquired 100,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was bought at an average price of $4.88 per share, with a total value of $488,000.00. Following the purchase, the director directly owned 1,559,542 shares in the company, valued at $7,610,564.96. The trade was a 6.85% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Balan Nair acquired 164,914 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $6.07 per share, with a total value of $1,001,027.98. Following the purchase, the chief executive officer owned 3,276,798 shares in the company, valued at approximately $19,890,163.86. The trade was a 5.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 14,820,228 shares of company stock worth $121,249,631 in the last quarter. 9.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Global

Hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP boosted its holdings in shares of Liberty Global by 3.9% in the 4th quarter. Rubric Capital Management LP now owns 10,656,935 shares of the company’s stock valued at $79,501,000 after purchasing an additional 400,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Liberty Global by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,557,181 shares of the company’s stock worth $71,297,000 after acquiring an additional 351,410 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Liberty Global by 0.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,268,542 shares of the company’s stock worth $9,463,000 after purchasing an additional 4,870 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Liberty Global by 71.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,144,678 shares of the company’s stock worth $8,539,000 after purchasing an additional 475,880 shares during the period. Finally, Empowered Funds LLC increased its position in Liberty Global by 4.1% during the 4th quarter. Empowered Funds LLC now owns 767,042 shares of the company’s stock worth $5,722,000 after purchasing an additional 29,870 shares in the last quarter. 52.98% of the stock is owned by institutional investors and hedge funds.

About Liberty Global

(Get Free Report)

Liberty Global plc is a leading international telecommunications and television company, offering video, broadband Internet, fixed-line and mobile services to residential and business customers. Headquartered in London and operating as an ADR on the NASDAQ under the ticker LILAK, the company focuses on developing advanced broadband networks and delivering entertainment and connectivity solutions across Europe.

The company’s core products include high-speed cable broadband, digital and interactive television, fixed-line telephony, and mobile services.

See Also

Earnings History for Liberty Global (NASDAQ:LILAK)

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