Liberty Media Corp. (LMCA) Sees Large Volume Increase
Liberty Media Corp. (NASDAQ:LMCA) saw an uptick in trading volume on Thursday . 296,446 shares traded hands during mid-day 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 equities analysts recently weighed in on the stock. 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. assumed coverage on shares of Liberty Media Corp. in a research report on Friday, May 13th. They set a “neutral” rating and a $21.00 price objective on the stock. Deutsche Bank AG lowered shares of Liberty Media Corp. from a “buy” rating to a “hold” rating and cut their price objective 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 cut their price objective on shares of Liberty Media Corp. from $49.00 to $22.50 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Finally, Macquarie assumed coverage on shares of Liberty Media Corp. in a research report on Friday, May 6th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $38.13.
The stock has a 50 day moving average of $21.55 and a 200 day moving average of $21.88.
In related news, Chairman John C. Malone sold 121,100 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $33.09, for a total value of $4,007,199.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman John C. Malone sold 127,357 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $32.53, for a total value of $4,142,923.21. Following the completion of the transaction, the chairman now owns 16,164,220 shares of the company’s stock, valued at $525,822,076.60. 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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