Liberty Media Corporation (FWONK) Sees Large Increase in Short Interest
Liberty Media Corporation (NASDAQ:FWONK) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 7,740,061 shares, a growth of 28.2% from the August 15th total of 6,037,595 shares. Based on an average trading volume of 1,441,291 shares, the short-interest ratio is presently 5.4 days. Currently, 4.5% of the company’s stock are sold short.
Shares of Liberty Media Corporation (NASDAQ FWONK) opened at 38.37 on Friday. The company’s market capitalization is $8.25 billion. The stock has a 50 day moving average of $36.52 and a 200-day moving average of $34.75. Liberty Media Corporation has a 12-month low of $26.44 and a 12-month high of $39.68.
Several brokerages recently issued reports on FWONK. Morgan Stanley restated an “equal weight” rating and issued a $35.00 target price (up previously from $29.00) on shares of Liberty Media Corporation in a report on Thursday, June 1st. Zacks Investment Research upgraded shares of Liberty Media Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC assumed coverage on shares of Liberty Media Corporation in a research note on Tuesday, May 23rd. They set an “equal weight” rating and a $33.00 target price on the stock.
A number of institutional investors have recently added to or reduced their stakes in FWONK. Vantage Investment Advisors LLC acquired a new stake in shares of Liberty Media Corporation during the second quarter valued at about $113,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Liberty Media Corporation in the second quarter valued at approximately $173,000. SG Americas Securities LLC purchased a new position in shares of Liberty Media Corporation in the second quarter valued at approximately $183,000. D.A. Davidson & CO. purchased a new position in shares of Liberty Media Corporation in the second quarter valued at approximately $188,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Liberty Media Corporation in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.
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About Liberty Media Corporation
Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media, communications and entertainment industries. Through its subsidiaries and affiliates, the Company operates in North America. The Company’s businesses and assets include its consolidated subsidiaries SIRIUS XM and the Atlanta National League Baseball Club, Inc, and its equity affiliate Live Nation Entertainment, Inc SIRIUS XM broadcasts music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its two satellite radio systems.
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