Liberty Media Corporation (LSXMA) Chairman Sells $13,157,384.96 in Stock
Liberty Media Corporation (NASDAQ:LSXMA) Chairman John C. Malone sold 306,842 shares of Liberty Media Corporation stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $42.88, for a total value of $13,157,384.96. Following the transaction, the chairman now owns 15,080,919 shares in the company, valued at approximately $646,669,806.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Liberty Media Corporation (NASDAQ LSXMA) opened at 43.39 on Friday. Liberty Media Corporation has a 12-month low of $31.83 and a 12-month high of $46.43. The stock’s 50 day moving average price is $43.10 and its 200 day moving average price is $40.19. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 31.53 and a beta of 2.69.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its position in shares of Liberty Media Corporation by 28.3% in the second quarter. Daiwa Securities Group Inc. now owns 2,950 shares of the technology company’s stock worth $124,000 after buying an additional 650 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Liberty Media Corporation during the first quarter worth $127,000. US Bancorp DE boosted its stake in shares of Liberty Media Corporation by 25.5% in the second quarter. US Bancorp DE now owns 3,539 shares of the technology company’s stock worth $149,000 after buying an additional 718 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Liberty Media Corporation by 249.8% in the fourth quarter. Macquarie Group Ltd. now owns 4,600 shares of the technology company’s stock worth $159,000 after buying an additional 3,285 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Liberty Media Corporation during the second quarter worth $195,000. Institutional investors and hedge funds own 24.15% of the company’s stock.
Several research analysts have recently commented on LSXMA shares. Deutsche Bank AG reduced their price target on Liberty Media Corporation from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, May 12th. Zacks Investment Research upgraded Liberty Media Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. FBR & Co reiterated a “buy” rating and set a $53.00 price target on shares of Liberty Media Corporation in a report on Tuesday, May 30th. Citigroup Inc. reiterated a “neutral” rating and set a $40.00 price target (down previously from $43.00) on shares of Liberty Media Corporation in a report on Monday, May 15th. Finally, Pivotal Research lifted their price target on Liberty Media Corporation from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price 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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