B. Riley Reaffirms Hold Rating for Liberty Media Corporation (FWONA)
Liberty Media Corporation (NASDAQ:FWONA)‘s stock had its “hold” rating reiterated by investment analysts at B. Riley in a research note issued to investors on Tuesday. They currently have a $36.00 target price on the stock. B. Riley’s price objective points to a potential downside of 3.20% from the company’s current price.
A number of other research firms also recently weighed in on FWONA. Macquarie restated a “buy” rating and issued a $45.00 target price on shares of Liberty Media Corporation in a research report on Thursday, October 5th. J P Morgan Chase & Co assumed coverage on Liberty Media Corporation in a research report on Tuesday, October 3rd. They issued a “hold” rating and a $38.00 target price for the company. Bank of America Corporation assumed coverage on Liberty Media Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $45.00 target price for the company. FBR & Co restated a “hold” rating on shares of Liberty Media Corporation in a research report on Wednesday, September 20th. Finally, Citigroup Inc. upgraded Liberty Media Corporation from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Tuesday, September 5th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.00.
Shares of Liberty Media Corporation (NASDAQ FWONA) traded up $0.08 during midday trading on Tuesday, hitting $37.19. The stock had a trading volume of 164,700 shares, compared to its average volume of 320,064. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.43 and a quick ratio of 0.43. Liberty Media Corporation has a fifty-two week low of $27.63 and a fifty-two week high of $39.37.
In other news, Chairman John C. Malone sold 18,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $41.99, for a total value of $755,820.00. Following the transaction, the chairman now directly owns 14,634,102 shares of the company’s stock, valued at $614,485,942.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Malcolm Ian Grant Gilchrist sold 1,826 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $36.52, for a total transaction of $66,685.52. Following the completion of the transaction, the director now directly owns 823 shares in the company, valued at $30,055.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,826 shares of company stock worth $7,309,976. Company insiders own 5.34% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FWONA. The Manufacturers Life Insurance Company acquired a new position in shares of Liberty Media Corporation in the second quarter worth $105,000. Great West Life Assurance Co. Can bought a new stake in Liberty Media Corporation in the third quarter worth $105,000. Legal & General Group Plc bought a new stake in Liberty Media Corporation in the second quarter worth $109,000. Howard Hughes Medical Institute bought a new stake in Liberty Media Corporation in the second quarter worth $132,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Liberty Media Corporation in the third quarter worth $204,000. 11.00% of the stock is currently owned by institutional investors and hedge funds.
About Liberty Media Corporation
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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