Liberty Media (FWONK) Sees Strong Trading Volume

Shares of Liberty Media Corporation (NASDAQ:FWONK) saw unusually-strong trading volume on Thursday . Approximately 4,002,193 shares were traded during trading, an increase of 169% from the previous session’s volume of 1,486,524 shares.The stock last traded at $33.74 and had previously closed at $33.31.

Several brokerages have recently commented on FWONK. Zacks Investment Research downgraded shares of Liberty Media from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. raised their price objective on shares of Liberty Media from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Pivotal Research raised their price objective on shares of Liberty Media from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Barclays raised their price objective on shares of Liberty Media from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. Finally, Morgan Stanley raised their price objective on shares of Liberty Media from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $44.57.

The firm has a market cap of $7,746.30, a PE ratio of -91.42 and a beta of 1.40.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DnB Asset Management AS acquired a new stake in Liberty Media in the 4th quarter valued at $553,000. Public Employees Retirement System of Ohio grew its position in Liberty Media by 62.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,812 shares of the company’s stock valued at $2,926,000 after purchasing an additional 29,392 shares during the period. California Public Employees Retirement System grew its position in Liberty Media by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 96,738 shares of the company’s stock valued at $3,685,000 after purchasing an additional 5,188 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Liberty Media in the 3rd quarter valued at $270,000. Finally, Janus Henderson Group PLC acquired a new stake in Liberty Media in the 3rd quarter valued at $38,299,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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About Liberty Media

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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