Zacks Investment Research upgraded shares of Liberty Media Corporation (NASDAQ:FWONK) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses through their operating subsidiaries and investments in various publicly-traded companies. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, as well as infotainment services on a subscription fee basis through its satellite radio systems; provides next-generation connected vehicle applications and services; streams music and non-music channels over the Internet; sells satellite and Internet radios to consumers through Website and retailers; and offers other ancillary services, such as weather, traffic, data, and Backseat television services. Liberty Media Corporation is headquartered in Englewood, Colorado. “

A number of other equities research analysts also recently weighed in on the company. Barclays PLC initiated coverage on Liberty Media Corporation in a research note on Tuesday, May 23rd. They set an equal weight rating and a $33.00 price target for the company. Morgan Stanley reaffirmed an equal weight rating and set a $35.00 price target (up from $29.00) on shares of Liberty Media Corporation in a research note on Thursday, June 1st.

Shares of Liberty Media Corporation (FWONK) opened at 35.18 on Tuesday. The stock’s market cap is $7.11 billion. Liberty Media Corporation has a one year low of $20.77 and a one year high of $37.18. The stock’s 50 day moving average price is $34.99 and its 200-day moving average price is $33.46.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Liberty Media Corporation during the second quarter worth about $183,000. Bank of New York Mellon Corp purchased a new stake in shares of Liberty Media Corporation during the second quarter worth about $25,337,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Liberty Media Corporation during the second quarter worth about $3,645,000. Rhumbline Advisers purchased a new stake in shares of Liberty Media Corporation during the second quarter worth about $3,627,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Liberty Media Corporation during the second quarter worth about $387,000. 65.15% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation Company Profile

Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media, communications and entertainment industries. Through its subsidiaries and affiliates, the Company operates in North America. The Company’s businesses and assets include its consolidated subsidiaries SIRIUS XM and the Atlanta National League Baseball Club, Inc, and its equity affiliate Live Nation Entertainment, Inc SIRIUS XM broadcasts music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its two satellite radio systems.

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