Liberty Media Corp. (LMCA) Sees Strong Trading Volume
Shares of Liberty Media Corp. (NASDAQ:LMCA) saw unusually-strong trading volume on Thursday . Approximately 296,446 shares were traded during trading, an increase of 46% from the previous session’s volume of 202,476 shares.The stock last traded at $21.32 and had previously closed at $21.40.
Several research analysts have commented on the stock. Wunderlich upped their target price on shares of Liberty Media Corp. from $22.50 to $25.50 and gave the stock a “buy” rating in a research report on Friday, July 29th. Deutsche Bank AG cut shares of Liberty Media Corp. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $23.00 in a research report on Tuesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Liberty Media Corp. from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, August 23rd. Citigroup Inc. upped their target price on shares of Liberty Media Corp. from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. Finally, Macquarie assumed coverage on shares of Liberty Media Corp. in a research report on Friday, May 6th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Liberty Media Corp. has a consensus rating of “Buy” and a consensus price target of $38.13.
The company’s 50 day moving average is $21.60 and its 200-day moving average is $21.88.
In related news, Chairman John C. Malone sold 191,115 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $32.39, for a total transaction of $6,190,214.85. Following the completion of the sale, the chairman now owns 16,164,220 shares in the company, valued at approximately $523,559,085.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John C. Malone sold 121,100 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $33.09, for a total transaction of $4,007,199.00. The disclosure for this sale can be found here.
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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