Liberty Media Corporation (NASDAQ:FWONK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, October 18th.
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. “
A number of other brokerages have also issued reports on FWONK. Bank of America Corporation assumed coverage on Liberty Media Corporation in a research report on Thursday, September 28th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. assumed coverage on Liberty Media Corporation in a research report on Tuesday, October 3rd. They issued a “neutral” rating and a $38.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Liberty Media Corporation presently has an average rating of “Buy” and a consensus price target of $38.75.
Liberty Media Corporation (NASDAQ FWONK) traded up 2.29% during mid-day trading on Wednesday, hitting $38.49. 1,120,186 shares of the stock traded hands. The stock has a 50-day moving average of $38.96 and a 200 day moving average of $35.85. Liberty Media Corporation has a 1-year low of $26.44 and a 1-year high of $41.14. The firm’s market cap is $8.28 billion.
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A number of institutional investors have recently made changes to their positions in the stock. Vantage Investment Advisors LLC acquired a new position in shares of Liberty Media Corporation during the 2nd quarter worth approximately $113,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Liberty Media Corporation during the 2nd quarter worth approximately $173,000. SG Americas Securities LLC acquired a new position in shares of Liberty Media Corporation during the 2nd quarter worth approximately $183,000. D.A. Davidson & CO. acquired a new position in shares of Liberty Media Corporation during the 2nd quarter worth approximately $188,000. Finally, Beck Mack & Oliver LLC acquired a new position in shares of Liberty Media Corporation during the 3rd quarter worth approximately $202,000. 78.27% of the stock is currently owned by institutional investors and hedge funds.
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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