Liberty Media (NASDAQ:FWONK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm currently has a $35.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 16.32% from the company’s current price.
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. “
Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Liberty Media from a “sell” rating to a “hold” rating in a report on Friday, May 4th. Barclays reduced their price objective on shares of Liberty Media from $35.00 to $30.00 and set a “hold” rating for the company in a report on Monday, April 16th. Finally, Morgan Stanley raised shares of Liberty Media from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $42.43.
FWONK stock opened at $30.09 on Tuesday. The stock has a market capitalization of $6.99 billion, a P/E ratio of 24.87 and a beta of 1.48. Liberty Media has a fifty-two week low of $29.63 and a fifty-two week high of $30.09.
Liberty Media (NASDAQ:FWONK) last posted its quarterly earnings data on Wednesday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.85. The company had revenue of $114.00 million during the quarter. analysts forecast that Liberty Media will post -0.54 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in Liberty Media by 244.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,543,055 shares of the company’s stock worth $325,990,000 after buying an additional 6,774,151 shares during the period. American Century Companies Inc. raised its holdings in Liberty Media by 341.9% during the 1st quarter. American Century Companies Inc. now owns 3,722,474 shares of the company’s stock worth $114,838,000 after buying an additional 2,880,124 shares during the period. Caledonia Private Investments Pty Ltd acquired a new stake in Liberty Media during the 1st quarter worth about $64,579,000. Naya Capital Management UK Ltd. acquired a new stake in Liberty Media during the 1st quarter worth about $58,680,000. Finally, BlackRock Inc. raised its holdings in Liberty Media by 21.7% during the 4th quarter. BlackRock Inc. now owns 9,005,808 shares of the company’s stock worth $307,638,000 after buying an additional 1,606,993 shares during the period. Hedge funds and other institutional investors own 88.18% of the company’s stock.
Liberty Media Company Profile
Formula One Group, through its subsidiaries, engages in the media and entertainment businesses in North America. Formula One Group was formerly known as The Liberty Media Group. The company is based in Englewood, Colorado. Formula One Group is a former subsidiary of Liberty Media Corporation.
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