Liberty Media Corp. (LMCA) Sees Unusually-High Trading Volume
Shares of Liberty Media Corp. (NASDAQ:LMCA) saw an uptick in trading volume on Wednesday . 351,843 shares changed hands during trading, an increase of 21% from the previous session’s volume of 291,212 shares.The stock last traded at $21.57 and had previously closed at $21.76.
A number of research firms have recently weighed in on LMCA. Deutsche Bank AG downgraded shares of Liberty Media Corp. from a “buy” rating to a “hold” rating and reduced their target price for the company from $44.00 to $23.00 in a research report on Tuesday, June 7th. They noted that the move was a valuation call. Wunderlich reduced their target price on shares of Liberty Media Corp. from $49.00 to $22.50 and set a “buy” rating for the company in a research report on Tuesday, May 31st. Zacks Investment Research raised shares of Liberty Media Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Citigroup Inc. began coverage on shares of Liberty Media Corp. in a research report on Friday, May 13th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Macquarie began coverage on shares of Liberty Media Corp. in a research report on Friday, May 6th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Liberty Media Corp. presently has an average rating of “Buy” and a consensus price target of $39.21.
The company’s 50-day moving average is $19.48 and its 200 day moving average is $22.33.
Liberty Media Corp. (NASDAQ:LMCA) last released its quarterly earnings data on Monday, May 9th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.18 billion. On average, equities analysts predict that Liberty Media Corp. will post $2.33 EPS for the current fiscal year.
In other news, major shareholder John C. Malone sold 188,800 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $38.48, for a total transaction of $7,265,024.00. Following the completion of the transaction, the insider now directly owns 16,804,220 shares of the company’s stock, valued at $646,626,385.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in Liberty Media Corp. by 618.8% in the fourth quarter. Marshall Wace LLP now owns 343,653 shares of the company’s stock valued at $13,488,000 after buying an additional 295,846 shares during the last quarter. Eaton Vance Management boosted its position in Liberty Media Corp. by 58.4% in the fourth quarter. Eaton Vance Management now owns 38,368 shares of the company’s stock valued at $1,506,000 after buying an additional 14,141 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Liberty Media Corp. by 2.9% in the fourth quarter. Gulf International Bank UK Ltd now owns 28,229 shares of the company’s stock valued at $1,108,000 after buying an additional 800 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its position in Liberty Media Corp. by 0.6% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 141,046 shares of the company’s stock valued at $5,542,000 after buying an additional 776 shares during the last quarter. Finally, Quantitative Investment Management LLC bought a new position in Liberty Media Corp. during the fourth quarter valued at $1,507,000.
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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