Liberty Media Corp. (LMCA) PT Raised to $55.00 at Pivotal Research
Liberty Media Corp. (NASDAQ:LMCA) had its target price boosted by research analysts at Pivotal Research from $35.00 to $55.00 in a research note issued on Wednesday. The firm presently has a “buy” rating on the stock. Pivotal Research’s target price suggests a potential upside of 67.89% from the stock’s previous close.
Several other research firms also recently weighed in on LMCA. Wunderlich downgraded Liberty Media Corp. from a “buy” rating to a “hold” rating and raised their price target for the stock from $25.50 to $31.00 in a research report on Monday, September 26th. Citigroup Inc. raised their price target on Liberty Media Corp. from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. FBN Securities reissued an “outperform” rating on shares of Liberty Media Corp. in a research report on Monday, September 26th. Zacks Investment Research raised Liberty Media Corp. from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, August 23rd. Finally, FBR & Co reissued a “buy” rating and set a $25.00 price target on shares of Liberty Media Corp. in a research report on Thursday, September 8th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.67.
Liberty Media Corp. (NASDAQ:LMCA) opened at 32.76 on Wednesday. Liberty Media Corp. has a 1-year low of $17.72 and a 1-year high of $32.78. The company’s 50-day moving average price is $28.62 and its 200 day moving average price is $23.10.
In related news, CFO Christopher W. Shean sold 12,471 shares of Liberty Media Corp. stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $29.55, for a total value of $368,518.05. Following the transaction, the chief financial officer now owns 24,157 shares in the company, valued at $713,839.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John C. Malone sold 191,115 shares of Liberty Media Corp. stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $32.39, for a total value of $6,190,214.85. Following the completion of the transaction, the chairman now owns 16,164,220 shares in the company, valued at approximately $523,559,085.80. The disclosure for this sale can be found here. 13.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LMCA. Cove Street Capital LLC boosted its position in shares of Liberty Media Corp. by 5,061.6% in the second quarter. Cove Street Capital LLC now owns 1,394,677 shares of the company’s stock worth $26,694,000 after buying an additional 1,367,657 shares in the last quarter. Southeastern Asset Management Inc. TN bought a new position in shares of Liberty Media Corp. during the second quarter worth approximately $21,806,000. Eagle Asset Management Inc. bought a new position in shares of Liberty Media Corp. during the third quarter worth approximately $18,829,000. Acadian Asset Management LLC bought a new position in shares of Liberty Media Corp. during the third quarter worth approximately $15,548,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of Liberty Media Corp. during the second quarter worth approximately $6,576,000. Institutional investors own 25.74% of the company’s stock.
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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