BlackRock Inc. raised its position in shares of Liberty Media Corporation (NASDAQ:LSXMA) by 5,832.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,304,119 shares of the technology company’s stock after buying an additional 6,197,849 shares during the period. BlackRock Inc. owned approximately 1.88% of Liberty Media Corporation worth $245,359,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in shares of 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 in the last quarter. Cohen Klingenstein LLC bought a new position in Liberty Media Corporation during the first quarter worth $200,000. Laurion Capital Management LP bought a new position in Liberty Media Corporation during the first quarter worth $202,000. United Services Automobile Association bought a new position in Liberty Media Corporation during the first quarter worth $204,000. Finally, Gateway Investment Advisers LLC bought a new position in Liberty Media Corporation during the first quarter worth $214,000. 24.34% of the stock is owned by institutional investors and hedge funds.
Liberty Media Corporation (NASDAQ LSXMA) traded up 0.14% on Tuesday, reaching $43.95. The company had a trading volume of 276,847 shares. The firm has a market capitalization of $14.75 billion, a P/E ratio of 33.60 and a beta of 2.69. Liberty Media Corporation has a 1-year low of $31.65 and a 1-year high of $46.43. The company’s 50-day moving average price is $42.14 and its 200 day moving average price is $39.42.
Liberty Media Corporation (NASDAQ:LSXMA) last posted its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, equities analysts forecast that Liberty Media Corporation will post $1.85 EPS for the current year.
A number of brokerages recently commented on LSXMA. Citigroup Inc. reaffirmed a “neutral” rating and issued a $40.00 target price (down from $43.00) on shares of Liberty Media Corporation in a report on Monday, May 15th. Pivotal Research reaffirmed a “buy” rating and issued a $51.00 target price on shares of Liberty Media Corporation in a report on Wednesday, May 24th. Zacks Investment Research cut Liberty Media Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. FBR & Co reissued a “buy” rating and set a $53.00 price target on shares of Liberty Media Corporation in a report on Tuesday, May 30th. Finally, Deutsche Bank AG decreased their price target on Liberty Media Corporation from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, May 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $45.17.
In related news, insider R. Ted Weschler purchased 492,156 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was purchased at an average price of $38.26 per share, with a total value of $18,829,888.56. Following the completion of the transaction, the insider now owns 271,034 shares of the company’s stock, valued at approximately $10,369,760.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John C. Malone sold 153,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $39.53, for a total transaction of $6,048,090.00. Following the transaction, the chairman now directly owns 2,814,562 shares of the company’s stock, valued at approximately $111,259,635.86. The disclosure for this sale can be found here. In the last three months, insiders bought 1,706,443 shares of company stock valued at $66,290,479 and sold 422,003 shares valued at $16,009,101.
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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