Liberty Media Corp. (NASDAQ:LMCA) Chairman John C. Malone sold 121,698 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $36.07, for a total transaction of $4,389,646.86. Following the completion of the sale, the chairman now owns 16,121,161 shares of the company’s stock, valued at approximately $581,490,277.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Liberty Media Corp. (NASDAQ:LMCA) opened at 31.72 on Friday. Liberty Media Corp. has a 52 week low of $17.72 and a 52 week high of $33.28. The company has a 50-day moving average of $28.97 and a 200 day moving average of $23.50.
A number of institutional investors have recently added to or reduced their stakes in LMCA. US Bancorp DE raised its position in Liberty Media Corp. by 411.2% in the third quarter. US Bancorp DE now owns 3,732 shares of the company’s stock valued at $107,000 after buying an additional 3,002 shares during the last quarter. Howard Hughes Medical Institute increased its stake in Liberty Media Corp. by 231.0% in the third quarter. Howard Hughes Medical Institute now owns 3,942 shares of the company’s stock valued at $113,000 after buying an additional 2,751 shares during the period. BlackRock Inc. increased its stake in Liberty Media Corp. by 3.3% in the third quarter. BlackRock Inc. now owns 5,750 shares of the company’s stock valued at $165,000 after buying an additional 186 shares during the period. PNC Financial Services Group Inc. increased its stake in Liberty Media Corp. by 6.8% in the third quarter. PNC Financial Services Group Inc. now owns 6,523 shares of the company’s stock valued at $187,000 after buying an additional 415 shares during the period. Finally, Wellington Shields Capital Management LLC bought a new stake in Liberty Media Corp. during the third quarter valued at $203,000. Institutional investors and hedge funds own 26.03% of the company’s stock.
A number of analysts recently commented on the stock. FBN Securities cut shares of Liberty Media Corp. from an “outperform” rating to a “sector perform” rating in a research report on Monday. Pivotal Research increased their target price on Liberty Media Corp. from $35.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, November 16th. Zacks Investment Research upgraded Liberty Media Corp. from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Friday, November 11th. Wunderlich cut Liberty Media Corp. from a “buy” rating to a “hold” rating and increased their target price for the stock from $25.50 to $31.00 in a report on Monday, September 26th. Finally, Citigroup Inc. upgraded Liberty Media Corp. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $32.00 in a report on Tuesday, September 13th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Liberty Media Corp. currently has a consensus rating of “Buy” and an average price target of $37.67.
About Liberty Media Corp.
Liberty Media Corporation (Liberty) owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. Through its subsidiaries and affiliates, the Company principally operates in North America. Its principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc (SIRIUS XM) and the Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc (Live Nation).
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