Investors Sell Shares of Liberty Media (FWONK) on Strength (FWONK)
Traders sold shares of Liberty Media Corporation (NASDAQ:FWONK) on strength during trading hours on Friday. $13.90 million flowed into the stock on the tick-up and $64.27 million flowed out of the stock on the tick-down, for a money net flow of $50.37 million out of the stock. Of all stocks tracked, Liberty Media had the 0th highest net out-flow for the day. Liberty Media traded up $1.00 for the day and closed at $34.74
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Liberty Media from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Bank of America initiated coverage on Liberty Media in a research note on Thursday, September 28th. They issued a “buy” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Liberty Media in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $38.00 price objective on the stock. Morgan Stanley boosted their price objective on Liberty Media from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Finally, Barclays boosted their price objective on Liberty Media from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $44.57.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC acquired a new stake in shares of Liberty Media during the second quarter worth $4,539,000. Howard Hughes Medical Institute acquired a new stake in shares of Liberty Media during the second quarter worth $1,145,000. Coatue Management LLC acquired a new stake in shares of Liberty Media during the second quarter worth $219,720,000. BlackRock Inc. acquired a new stake in shares of Liberty Media during the second quarter worth $183,521,000. Finally, Markel Corp acquired a new stake in shares of Liberty Media during the third quarter worth $9,884,000. 84.76% of the stock is currently owned by institutional investors.
Liberty Media 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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