Gruss Capital Management LP boosted its holdings in Liberty Media Corporation (NASDAQ:LSXMA) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,163,500 shares of the technology company’s stock after acquiring an additional 185,000 shares during the quarter. Liberty Media accounts for approximately 4.2% of Gruss Capital Management LP’s holdings, making the stock its 6th largest position. Gruss Capital Management LP owned approximately 0.35% of Liberty Media worth $48,751,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Berkshire Hathaway Inc. raised its stake in Liberty Media by 45.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 14,860,360 shares of the technology company’s stock valued at $623,838,000 after buying an additional 4,612,560 shares during the last quarter. Numeric Investors LLC raised its stake in Liberty Media by 4,638.8% during the 2nd quarter. Numeric Investors LLC now owns 781,895 shares of the technology company’s stock valued at $32,824,000 after buying an additional 765,395 shares during the last quarter. Janus Henderson Group PLC raised its stake in Liberty Media by 2,532.0% during the 2nd quarter. Janus Henderson Group PLC now owns 262,652 shares of the technology company’s stock valued at $11,026,000 after buying an additional 252,673 shares during the last quarter. First Quadrant L P CA raised its stake in Liberty Media by 585.6% during the 3rd quarter. First Quadrant L P CA now owns 228,654 shares of the technology company’s stock valued at $9,581,000 after buying an additional 195,303 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Liberty Media during the 2nd quarter valued at $7,574,000. 25.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Liberty Media Corporation (LSXMA) opened at $41.80 on Thursday. The company has a market capitalization of $14,377.87, a price-to-earnings ratio of 26.41, a PEG ratio of 1.02 and a beta of 2.16. Liberty Media Corporation has a 12 month low of $34.04 and a 12 month high of $46.43.
LSXMA has been the subject of a number of research reports. Bank of America boosted their target price on shares of Liberty Media from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Pivotal Research boosted their target price on shares of Liberty Media from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, B. Riley reiterated a “buy” rating on shares of Liberty Media in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $50.80.
In other news, Chairman John C. Malone sold 153,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.31, for a total value of $5,708,430.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark D. Carleton sold 19,843 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $40.91, for a total value of $811,777.13. Following the completion of the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $409,100. The disclosure for this sale can be found here. Insiders sold a total of 210,669 shares of company stock valued at $8,121,753 over the last 90 days.
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Liberty Media Profile
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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