Here are the Issues that Dragged Liberty Global plc (LBTYA)
Artisan Partners, an investment management company, released its “Artisan International Value Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTKX returned 3.97%, Advisor Class fund APDKX posted a return of 3.99%, and Institutional Class fund APHKX returned 4.02%, compared to a return of 2.95% for the MSCI EAFE Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan International Value Fund highlighted stocks like Liberty Global plc (NASDAQ:LBTYA) in the second quarter 2023 investor letter. Based in London, the United Kingdom, Liberty Global plc (NASDAQ:LBTYA) offers broadband internet, video, fixed-line telephony, and mobile communications service. On September 1, 2023, Liberty Global plc (NASDAQ:LBTYA) stock closed at $17.90 per share. One-month return of Liberty Global plc (NASDAQ:LBTYA) was -1.59%, and its shares lost 10.32% of their value over the last 52 weeks. Liberty Global plc (NASDAQ:LBTYA) has a market capitalization of $7.913 billion.
Artisan International Value Fund made the following comment about Liberty Global plc (NASDAQ:LBTYA) in its second quarter 2023 investor letter:
"Liberty Global plc (NASDAQ:LBTYA), one of Nokia’s clients, suffered a 13% share price decline. Liberty operates four telecommunications service providers located in the UK, Belgium, Switzerland and the Netherlands. These service providers are facing the same issues discussed above: higher inflation, competition and higher interest rates. The share price has gone from cheap to very cheap despite management’s significant value creation over time and significant share repurchases. We and other shareholders have lobbied the company to simplify its structure, de-lever the operating subsidiaries and better align compensation with shareholder value."
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Liberty Global plc (NASDAQ:LBTYA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Liberty Global plc (NASDAQ:LBTYA) at the end of second quarter which was 27 in the previous quarter.
We discussed Liberty Global plc (NASDAQ:LBTYA) in another article and shared the list of stocks Warren Buffett sold. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
