Liberty Media Corporation (NASDAQ:LSXMA) had its target price lowered by equities researchers at Deutsche Bank AG from $43.00 to $42.00 in a research note issued to investors on Friday, May 12th. The brokerage presently has a “hold” rating on the technology company’s stock. Deutsche Bank AG’s target price would indicate a potential upside of 5.03% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Pivotal Research reissued a “buy” rating and issued a $51.00 price objective on shares of Liberty Media Corporation in a research report on Sunday, April 9th. FBR & Co reaffirmed a “buy” rating and issued a $48.00 price target on shares of Liberty Media Corporation in a research report on Monday, February 13th. Morgan Stanley cut shares of Liberty Media Corporation from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 23rd. Zacks Investment Research raised shares of Liberty Media Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $40.00 price objective (up previously from $37.00) on shares of Liberty Media Corporation in a research note on Saturday, March 11th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.36.
Shares of Liberty Media Corporation (NASDAQ:LSXMA) traded up 0.10% during midday trading on Friday, hitting $39.99. The company’s stock had a trading volume of 788,493 shares. Liberty Media Corporation has a 52-week low of $29.26 and a 52-week high of $43.32. The stock’s 50 day moving average is $39.29 and its 200-day moving average is $37.75. The firm has a market cap of $13.42 billion, a P/E ratio of 30.57 and a beta of 2.59.
Liberty Media Corporation (NASDAQ:LSXMA) last posted its earnings results 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 analysts’ expectations of $1.32 billion. Equities analysts predict that Liberty Media Corporation will post $1.85 EPS for the current fiscal year.
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In related news, CFO Mark D. Carleton sold 35,946 shares of Liberty Media Corporation stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $33.00, for a total value of $1,186,218.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Berkshire Hathaway Inc purchased 2,470,117 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The stock was purchased at an average price of $39.96 per share, with a total value of $98,705,875.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,176,560 shares of company stock worth $164,996,354.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Liberty Media Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 8,934,026 shares of the technology company’s stock worth $347,713,000 after buying an additional 448,320 shares during the last quarter. BlackRock Inc. boosted its stake in Liberty Media Corporation by 5,832.2% in the first quarter. BlackRock Inc. now owns 6,304,119 shares of the technology company’s stock worth $245,359,000 after buying an additional 6,197,849 shares during the last quarter. State Street Corp boosted its stake in Liberty Media Corporation by 0.3% in the fourth quarter. State Street Corp now owns 1,861,903 shares of the technology company’s stock worth $64,273,000 after buying an additional 5,154 shares during the last quarter. Norges Bank bought a new stake in Liberty Media Corporation during the fourth quarter worth $64,060,000. Finally, Jana Partners LLC bought a new stake in Liberty Media Corporation during the first quarter worth $62,713,000. 24.76% of the stock is currently owned by institutional investors.
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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