Investment firm Fourth Sail Capital LP has increased its holdings in Liberty Global PLC by an impressive 51.4% during the second quarter of 2023. According to a report by HoldingsChannel, the firm now owns a total of 3,835,640 shares after acquiring an additional 1,302,037 shares during this period. Liberty Global constitutes approximately 4.9% of Fourth Sail Capital’s portfolio, making it the sixth largest investment for the firm.
As of the end of the most recent reporting period, Fourth Sail Capital’s shares in Liberty Global were valued at approximately $23.86 million. This significant investment aligns with a growing trend among major institutional investors, who are also adjusting their positions in Liberty Global.
Several other large investors have also made notable moves regarding their holdings in the company. Nuveen LLC established a new position in Liberty Global, valued at around $2.33 million, during the first quarter of 2023. Additionally, Long Focus Capital Management LLC raised its stake by 8.6%, now owning 3,295,336 shares worth approximately $20.46 million after acquiring an extra 260,720 shares.
In a similar vein, HSBC Holdings PLC increased its holdings by 29.7%, now owning 1,049,737 shares valued at $6.58 million after purchasing 240,320 shares. Deutsche Bank AG also lifted its stake by 12.6%, now controlling 2,117,792 shares worth about $13.15 million following a purchase of 236,356 shares.
The trend continues with Y Intercept Hong Kong Ltd, which acquired a new stake in Liberty Global valued at approximately $1.43 million during the second quarter. Overall, institutional investors now hold approximately 52.98% of Liberty Global’s stock.
Current Market Performance
Despite these positive movements among investors, Liberty Global’s stock has seen a downturn, opening at $7.95 on Monday, reflecting a decline of 7.5%. The company currently boasts a market capitalization of $1.59 billion, a price-to-earnings ratio of -2.15, and a beta of 1.05. Over the past year, shares have fluctuated between a low of $4.23 and a high of $9.05. The fifty-day simple moving average stands at $8.13, while the 200-day average is $6.91. Additionally, the company has a current ratio of 1.08, a quick ratio of 1.08, and a debt-to-equity ratio of 5.00.
Analyst Insights
Recent reports from analysts have provided mixed reviews on Liberty Global’s outlook. On October 8, 2023, Weiss Ratings reiterated a “sell (D-)” rating for the company. Meanwhile, Scotiabank raised its price target from $5.10 to $8.20, assigning it a “sector perform” rating in a report dated August 28, 2023. Currently, two analysts have issued a Hold rating, while one has suggested a Sell rating. According to data from MarketBeat.com, the average analyst rating for Liberty Global is “Reduce,” with an average price target of $7.85.
Company Overview
Liberty Global PLC operates through various segments, including C&W Caribbean, C&W Panama, Liberty Networks, Liberty Puerto Rico, and Liberty Costa Rica. The company provides a comprehensive array of telecommunications services, including video, broadband internet, fixed-line telephony, and mobile services to both residential and business customers. Additionally, Liberty Global offers enterprise-grade connectivity, data center solutions, hosting, and managed services targeted at small to medium enterprises, international corporations, and government agencies.
As institutional investment activity continues to shape Liberty Global’s market presence, the performance and strategic direction of the company remain critical to watch in the coming months.
