Liberty Media Corporation (NASDAQ:LSXMK) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 759,908 shares, a drop of 29.8% from the April 28th total of 1,082,955 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 710,269 shares, the short-interest ratio is currently 1.1 days.
Separately, Zacks Investment Research downgraded shares of Liberty Media Corporation from a “hold” rating to a “sell” rating in a research note on Friday, April 21st.
In other news, major shareholder Berkshire Hathaway Inc purchased 1,867,530 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $36.44 per share, with a total value of $68,052,793.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have purchased 7,733,876 shares of company stock valued at $302,006,175.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC boosted its position in Liberty Media Corporation by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 278,327 shares of the technology company’s stock worth $9,441,000 after buying an additional 2,139 shares in the last quarter. Norges Bank acquired a new position in Liberty Media Corporation during the fourth quarter worth about $41,636,000. Aviva PLC boosted its position in Liberty Media Corporation by 6.7% in the fourth quarter. Aviva PLC now owns 119,701 shares of the technology company’s stock worth $4,061,000 after buying an additional 7,528 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Liberty Media Corporation during the fourth quarter worth about $4,438,000. Finally, Van Den Berg Management I Inc. raised its stake in shares of Liberty Media Corporation by 12.2% in the first quarter. Van Den Berg Management I Inc. now owns 435,222 shares of the technology company’s stock worth $16,878,000 after buying an additional 47,402 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.
Liberty Media Corporation (NASDAQ LSXMK) traded down 1.23% on Tuesday, reaching $39.42. 473,864 shares of the company’s stock were exchanged. Liberty Media Corporation has a 12 month low of $29.01 and a 12 month high of $43.25. The firm has a 50 day moving average of $39.18 and a 200 day moving average of $37.50. The stock has a market capitalization of $13.23 billion, a PE ratio of 30.14 and a beta of 2.39.
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About Liberty Media Corporation
Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. The Company’s principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc (SIRIUS XM) and Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc (Live Nation).
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