Simcoe Capital Management LLC Continues to Hold Stake in Liberty Media Corporation (LSXMA)
Simcoe Capital Management LLC maintained its position in Liberty Media Corporation (NASDAQ:LSXMA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,242 shares of the technology company’s stock at the close of the 2nd quarter. Liberty Media Corporation accounts for 3.7% of Simcoe Capital Management LLC’s portfolio, making the stock its 11th largest position. Simcoe Capital Management LLC owned approximately 0.06% of Liberty Media Corporation worth $8,616,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC grew its position in Liberty Media Corporation by 601.3% in the 1st quarter. Lazard Asset Management LLC now owns 50,500 shares of the technology company’s stock worth $1,965,000 after purchasing an additional 43,299 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in Liberty Media Corporation by 22.6% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 147,344 shares of the technology company’s stock worth $5,733,000 after purchasing an additional 27,157 shares during the period. Renaissance Technologies LLC bought a new stake in Liberty Media Corporation in the 1st quarter worth approximately $10,551,000. Vanguard Group Inc. grew its position in Liberty Media Corporation by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 8,934,026 shares of the technology company’s stock worth $347,713,000 after purchasing an additional 448,320 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its position in Liberty Media Corporation by 509.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 14,970 shares of the technology company’s stock worth $628,000 after purchasing an additional 12,514 shares during the period. 24.67% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman John C. Malone sold 102,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $36.22, for a total transaction of $3,694,440.00. Following the sale, the chairman now owns 2,866,127 shares in the company, valued at $103,811,119.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark D. Carleton sold 19,843 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $40.91, for a total transaction of $811,777.13. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $409,100. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,117,661 shares of company stock worth $45,673,279.
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LSXMA has been the subject of a number of research analyst reports. Citigroup Inc. lifted their target price on shares of Liberty Media Corporation from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of Liberty Media Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co reaffirmed a “buy” rating and issued a $53.00 target price on shares of Liberty Media Corporation in a research report on Tuesday, May 30th. Finally, Pivotal Research lifted their target price on shares of Liberty Media Corporation from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.67.
Liberty Media Corporation Company Profile
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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