Zacks Investment Research upgraded shares of Liberty Media Corporation (NASDAQ:FWONK) from a hold rating to a buy rating in a research note released on Monday. The firm currently has $44.00 price objective on the stock.
According to Zacks, “Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses through their operating subsidiaries and investments in various publicly-traded companies. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, as well as infotainment services on a subscription fee basis through its satellite radio systems; provides next-generation connected vehicle applications and services; streams music and non-music channels over the Internet; sells satellite and Internet radios to consumers through Website and retailers; and offers other ancillary services, such as weather, traffic, data, and Backseat television services. Liberty Media Corporation is headquartered in Englewood, Colorado. “
Several other brokerages have also issued reports on FWONK. J P Morgan Chase & Co began coverage on Liberty Media Corporation in a research note on Tuesday, October 3rd. They issued a neutral rating and a $38.00 target price on the stock. Bank of America Corporation began coverage on Liberty Media Corporation in a research note on Thursday, September 28th. They issued a buy rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $38.50.
Liberty Media Corporation (NASDAQ FWONK) traded up 0.913% during midday trading on Monday, reaching $40.345. The company had a trading volume of 835,206 shares. The firm’s market capitalization is $8.67 billion. The stock’s 50 day moving average is $38.90 and its 200 day moving average is $35.70. Liberty Media Corporation has a 12-month low of $26.44 and a 12-month high of $41.14.
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Several large investors have recently added to or reduced their stakes in FWONK. Vanguard Group Inc. bought a new stake in shares of Liberty Media Corporation during the 2nd quarter valued at $400,601,000. FMR LLC bought a new stake in shares of Liberty Media Corporation during the 2nd quarter valued at $332,524,000. Coatue Management LLC bought a new stake in shares of Liberty Media Corporation during the 2nd quarter valued at $219,720,000. Southeastern Asset Management Inc. TN bought a new stake in shares of Liberty Media Corporation during the 2nd quarter valued at $188,027,000. Finally, BlackRock Inc. bought a new stake in shares of Liberty Media Corporation during the 2nd quarter valued at $183,521,000. Institutional investors own 78.24% of the company’s stock.
Liberty Media Corporation 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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