Insider Selling: Liberty Media Corporation (LSXMA) Chairman Sells 18,000 Shares of Stock
Liberty Media Corporation (NASDAQ:LSXMA) Chairman John C. Malone sold 18,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $43.27, for a total transaction of $778,860.00. Following the transaction, the chairman now directly owns 15,366,920 shares of the company’s stock, valued at $664,926,628.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Liberty Media Corporation (NASDAQ LSXMA) traded down 2.24% during midday trading on Thursday, hitting $42.30. 400,711 shares of the stock traded hands. Liberty Media Corporation has a 52-week low of $31.83 and a 52-week high of $46.43. The firm has a market cap of $14.21 billion, a PE ratio of 30.74 and a beta of 2.69. The stock has a 50-day moving average of $42.84 and a 200 day moving average of $39.89.
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A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Liberty Media Corporation by 5,832.2% in the first quarter. BlackRock Inc. now owns 6,304,119 shares of the technology company’s stock worth $245,359,000 after buying an additional 6,197,849 shares during the last quarter. Berkshire Hathaway Inc. boosted its stake in Liberty Media Corporation by 45.0% in the second quarter. Berkshire Hathaway Inc. now owns 14,860,360 shares of the technology company’s stock worth $623,838,000 after buying an additional 4,612,560 shares during the last quarter. Jana Partners LLC bought a new stake in Liberty Media Corporation during the first quarter worth $62,713,000. Gruss Capital Management LP bought a new stake in Liberty Media Corporation during the second quarter worth $41,077,000. Finally, Numeric Investors LLC boosted its stake in Liberty Media Corporation by 4,638.8% in the second quarter. Numeric Investors LLC now owns 781,895 shares of the technology company’s stock worth $32,824,000 after buying an additional 765,395 shares during the last quarter. 24.15% of the stock is currently owned by institutional investors.
LSXMA has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Liberty Media Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Deutsche Bank AG dropped their price objective on shares of Liberty Media Corporation from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, May 12th. Citigroup Inc. reissued a “neutral” rating and issued a $40.00 price objective (down from $43.00) on shares of Liberty Media Corporation in a research note on Monday, May 15th. Pivotal Research reissued a “buy” rating and issued a $51.00 price objective on shares of Liberty Media Corporation in a research note on Wednesday, May 24th. Finally, FBR & Co reissued a “buy” rating and issued a $53.00 price objective on shares of Liberty Media Corporation in a research note on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $45.67.
About Liberty Media Corporation
Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. The Company’s principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc (SIRIUS XM) and Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc (Live Nation).
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