Sterling Capital Management LLC Buys New Stake in Liberty Media Corporation (LSXMA)
Sterling Capital Management LLC bought a new stake in Liberty Media Corporation (NASDAQ:LSXMA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,890 shares of the technology company’s stock, valued at approximately $708,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. US Bancorp DE lifted its position in shares of Liberty Media by 25.5% during the second quarter. US Bancorp DE now owns 3,539 shares of the technology company’s stock worth $149,000 after purchasing an additional 718 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Liberty Media by 243.9% during the third quarter. Toronto Dominion Bank now owns 3,896 shares of the technology company’s stock worth $163,000 after buying an additional 2,763 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in shares of Liberty Media during the second quarter worth approximately $195,000. BB&T Securities LLC purchased a new stake in shares of Liberty Media during the second quarter worth approximately $207,000. Finally, M&T Bank Corp purchased a new stake in shares of Liberty Media during the second quarter worth approximately $246,000. 25.06% of the stock is currently owned by institutional investors.
In related news, Director Malcolm Ian Grant Gilchrist sold 1,826 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 823 shares of the company’s stock, valued at approximately $30,055.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John C. Malone sold 153,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $37.31, for a total value of $5,708,430.00. The disclosure for this sale can be found here. Insiders sold a total of 172,826 shares of company stock valued at $6,554,156 in the last 90 days.
Several equities analysts have commented on the stock. B. Riley reiterated a “buy” rating on shares of Liberty Media in a research note on Wednesday, November 1st. Pivotal Research raised their target price on shares of Liberty Media from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Bank of America raised their target price on shares of Liberty Media from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Liberty Media has a consensus rating of “Buy” and a consensus target price of $50.80.
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Liberty Media Company Profile
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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