Liberty Global (NASDAQ:LILAK) Shares Up 9.6% – Here’s What Happened

Liberty Global PLC (NASDAQ:LILAK)’s share price traded up 9.6% during mid-day trading on Thursday . The stock traded as high as $8.63 and last traded at $8.5850. 339,082 shares were traded during mid-day trading, a decline of 59% from the average session volume of 825,352 shares. The stock had previously closed at $7.83.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LILAK. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Global in a research note on Thursday, January 22nd. Wall Street Zen cut Liberty Global from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $8.20.

Liberty Global Price Performance

The firm’s fifty day simple moving average is $7.74 and its 200-day simple moving average is $8.02. The firm has a market capitalization of $1.71 billion, a PE ratio of -2.33 and a beta of 0.99. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 6.78.

Liberty Global (NASDAQ:LILAK) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.37). Liberty Global had a negative net margin of 16.57% and a negative return on equity of 54.11%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.10 billion.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LILAK. Raymond James Financial Inc. bought a new stake in Liberty Global in the 2nd quarter worth about $30,000. PNC Financial Services Group Inc. grew its stake in shares of Liberty Global by 45.2% in the second quarter. PNC Financial Services Group Inc. now owns 5,773 shares of the company’s stock worth $36,000 after acquiring an additional 1,797 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Liberty Global in the third quarter worth approximately $50,000. Headlands Technologies LLC raised its holdings in shares of Liberty Global by 85.9% during the second quarter. Headlands Technologies LLC now owns 8,515 shares of the company’s stock valued at $53,000 after purchasing an additional 3,934 shares during the last quarter. Finally, Xponance LLC bought a new position in Liberty Global during the fourth quarter valued at approximately $75,000. 52.98% of the stock is owned by institutional investors.

About Liberty Global

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.