The Liberty SiriusXM Group [NASDAQ: LSXMK] slipped around -0.61 points on Wednesday, while shares priced at $29.07 at the close of the session, down -2.06%. The company report on March 8, 2023 that Liberty Media Corporation Prices Private Offering of $500 Million of 3.75% Convertible Senior Notes Due 2028.
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Liberty Media Corporation (“Liberty”) (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) announced today that it has priced and agreed to sell to initial purchasers in a private offering $500 million aggregate principal amount of 3.75% convertible senior notes due 2028 (the “Notes”). Liberty has also granted to the initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $75 million principal amount of Notes.
The Notes will be convertible into shares of Liberty’s Series A Liberty SiriusXM common stock (“LSXMA”), which may be settled at Liberty’s election in LSXMA, cash or a combination thereof. Prior to December 15, 2027, the Notes will be convertible at the option of holders only upon satisfaction of certain conditions and during certain periods, and on and after December 15, 2027, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Notes will have an initial conversion rate of 25.9000 shares of LSXMA per $1,000 principal amount of Notes, representing an initial conversion price of approximately $38.61 for each share of LSXMA, which represents a conversion premium of approximately 30% to the last reported sale price of $29.70 per share of LSXMA on the Nasdaq Global Select Market on March 7, 2023.
The Liberty SiriusXM Group stock is now -25.71% down from its year-to-date (YTD) trading value. LSXMK Stock saw the intraday high of $29.83 and lowest of $28.68 per share. The company’s 52-week high price is 47.01, which means current price is +1.36% above from all time high which was touched on 01/17/23.
Compared to the average trading volume of 866.54K shares, LSXMK reached a trading volume of 3622316 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about The Liberty SiriusXM Group [LSXMK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LSXMK shares is $54.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LSXMK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Rosenblatt have made an estimate for The Liberty SiriusXM Group shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 19, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $57 to $56. The new note on the price target was released on December 09, 2021, representing the official price target for The Liberty SiriusXM Group stock. Previously, the target price had yet another raise to $51, while Morgan Stanley analysts kept a Overweight rating on LSXMK stock. On November 12, 2018, analysts decreased their price target for LSXMK shares from 62 to 60.
The Average True Range (ATR) for The Liberty SiriusXM Group is set at 0.82, with the Price to Sales ratio for LSXMK stock in the period of the last 12 months amounting to 3.05. The Price to Book ratio for the last quarter was 1.12.
How has LSXMK stock performed recently?
The Liberty SiriusXM Group [LSXMK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.71. With this latest performance, LSXMK shares dropped by -18.69% in over the last four-week period, additionally sinking by -27.52% over the last 6 months – not to mention a drop of -33.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LSXMK stock in for the last two-week period is set at 15.49, with the RSI for the last a single of trading hit 12.21, and the three-weeks RSI is set at 19.08 for The Liberty SiriusXM Group [LSXMK]. The present Moving Average for the last 50 days of trading for this stock 36.99, while it was recorded at 30.57 for the last single week of trading, and 39.49 for the last 200 days.
Earnings analysis for The Liberty SiriusXM Group [LSXMK]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LSXMK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Liberty SiriusXM Group go to 38.20%.
Insider trade positions for The Liberty SiriusXM Group [LSXMK]
There are presently around $5,447 million, or 85.36% of LSXMK stock, in the hands of institutional investors. The top three institutional holders of LSXMK stocks are: BERKSHIRE HATHAWAY INC with ownership of 43,208,291, which is approximately 0% of the company’s market cap and around 10.62% of the total institutional ownership; VANGUARD GROUP INC, holding 14,492,254 shares of the stock with an approximate value of $421.29 million in LSXMK stocks shares; and BAUPOST GROUP LLC/MA, currently with $396.84 million in LSXMK stock with ownership of nearly -0.922% of the company’s market capitalization.
168 institutional holders increased their position in The Liberty SiriusXM Group [NASDAQ:LSXMK] by around 14,515,372 shares. Additionally, 191 investors decreased positions by around 8,251,513 shares, while 120 investors held positions by with 164,595,402 shares. The mentioned changes placed institutional holdings at 187,362,287 shares, according to the latest SEC report filing. LSXMK stock had 48 new institutional investments in for a total of 3,066,890 shares, while 43 institutional investors sold positions of 2,425,312 shares during the same period.