Insider Selling: Liberty Media Corp. (LMCA) Chairman Sells 112,467 Shares of Stock
Liberty Media Corp. (NASDAQ:LMCA) Chairman John C. Malone sold 112,467 shares of the firm’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $35.68, for a total transaction of $4,012,822.56. Following the completion of the transaction, the chairman now directly owns 15,975,893 shares in the company, valued at $570,019,862.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Liberty Media Corp. (NASDAQ:LMCA) traded down 0.98% on Wednesday, hitting $31.29. 372,576 shares of the stock were exchanged. The company has a 50 day moving average of $29.14 and a 200 day moving average of $23.75. Liberty Media Corp. has a 52-week low of $17.72 and a 52-week high of $33.28.
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LMCA has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Liberty Media Corp. from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, August 23rd. Citigroup Inc. lifted their price target on shares of Liberty Media Corp. from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 24th. FBR & Co reaffirmed a “buy” rating and set a $25.00 price target on shares of Liberty Media Corp. in a report on Thursday, September 8th. Pivotal Research initiated coverage on shares of Liberty Media Corp. in a report on Tuesday, September 13th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Wunderlich lowered shares of Liberty Media Corp. from a “buy” rating to a “hold” rating and lifted their price target for the company from $25.50 to $31.00 in a report on Monday, September 26th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.67.
Several large investors have recently made changes to their positions in the company. US Bancorp DE boosted its position in Liberty Media Corp. by 411.2% in the third quarter. US Bancorp DE now owns 3,732 shares of the company’s stock valued at $107,000 after buying an additional 3,002 shares during the period. Howard Hughes Medical Institute boosted its position in Liberty Media Corp. by 231.0% in the third quarter. Howard Hughes Medical Institute now owns 3,942 shares of the company’s stock valued at $113,000 after buying an additional 2,751 shares during the period. Pacad Investment Ltd. bought a new position in Liberty Media Corp. during the second quarter valued at $144,000. Strs Ohio bought a new position in Liberty Media Corp. during the second quarter valued at $145,000. Finally, BlackRock Inc. boosted its position in Liberty Media Corp. by 3.3% in the third quarter. BlackRock Inc. now owns 5,750 shares of the company’s stock valued at $165,000 after buying an additional 186 shares during the period. 27.99% of the stock is currently owned by hedge funds and other institutional investors.
Liberty Media Corp. Company Profile
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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