Liberty Media Corporation (LSXMA) Sees Large Growth in Short Interest
Liberty Media Corporation (NASDAQ:LSXMA) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 2,022,406 shares, a growth of 82.2% from the July 14th total of 1,110,035 shares. Based on an average daily trading volume, of 734,160 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.1% of the shares of the company are short sold.
Liberty Media Corporation (NASDAQ LSXMA) opened at 43.24 on Friday. Liberty Media Corporation has a 52 week low of $31.83 and a 52 week high of $46.43. The firm’s 50-day moving average price is $42.62 and its 200-day moving average price is $39.70. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 33.06 and a beta of 2.69.
A number of brokerages recently issued reports on LSXMA. Citigroup Inc. increased their price objective on Liberty Media Corporation from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Deutsche Bank AG decreased their price target on Liberty Media Corporation from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, May 12th. FBR & Co reaffirmed a “buy” rating and set a $53.00 price target on shares of Liberty Media Corporation in a research note on Tuesday, May 30th. Pivotal Research reaffirmed a “buy” rating and set a $51.00 price target on shares of Liberty Media Corporation in a research note on Wednesday, May 24th. Finally, Zacks Investment Research raised Liberty Media Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $45.17.
In related news, Chairman John C. Malone sold 153,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $39.53, for a total value of $6,048,090.00. Following the completion of the transaction, the chairman now directly owns 2,814,562 shares of the company’s stock, valued at approximately $111,259,635.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark D. Carleton sold 30,816 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $40.16, for a total value of $1,237,570.56. Following the completion of the transaction, the chief financial officer now directly owns 127,446 shares of the company’s stock, valued at $5,118,231.36. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,706,443 shares of company stock valued at $66,290,479 and sold 422,003 shares valued at $16,009,101.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Liberty Media Corporation by 249.8% in the fourth quarter. Macquarie Group Ltd. now owns 4,600 shares of the technology company’s stock valued at $159,000 after buying an additional 3,285 shares during the period. Cohen Klingenstein LLC bought a new position in Liberty Media Corporation during the first quarter valued at $200,000. Beese Fulmer Investment Management Inc. bought a new position in Liberty Media Corporation during the first quarter valued at $217,000. Gateway Investment Advisers LLC bought a new position in Liberty Media Corporation during the first quarter valued at $214,000. Finally, Quantitative Systematic Strategies LLC boosted its position in Liberty Media Corporation by 35.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 45,206 shares of the technology company’s stock valued at $1,759,000 after buying an additional 11,886 shares during the period. Hedge funds and other institutional investors own 24.34% of the company’s stock.
About Liberty Media Corporation
Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. The Company’s principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc (SIRIUS XM) and Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc (Live Nation).
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