Liberty Media Corporation (NASDAQ:FWONK) shot up 5.1% on Friday . The stock traded as high as $38.92 and last traded at $38.71. 2,577,049 shares changed hands during trading, an increase of 104% from the average session volume of 1,265,540 shares. The stock had previously closed at $36.83.

FWONK has been the subject of a number of research reports. Zacks Investment Research upgraded Liberty Media Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC boosted their price objective on Liberty Media Corporation from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. J P Morgan Chase & Co initiated coverage on Liberty Media Corporation in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $38.00 price objective for the company. Bank of America Corporation initiated coverage on Liberty Media Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Liberty Media Corporation from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Liberty Media Corporation has a consensus rating of “Buy” and an average target price of $44.57.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Liberty Media Corporation during the second quarter worth $400,601,000. FMR LLC acquired a new position in Liberty Media Corporation during the second quarter worth $332,524,000. Coatue Management LLC acquired a new position in Liberty Media Corporation during the second quarter worth $219,720,000. Southeastern Asset Management Inc. TN acquired a new position in Liberty Media Corporation during the second quarter worth $188,027,000. Finally, BlackRock Inc. acquired a new position in Liberty Media Corporation during the second quarter worth $183,521,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

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About Liberty Media Corporation

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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