Millennium Management LLC raised its stake in shares of Liberty Media Co. (NASDAQ:FWONK) by 41.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 380,309 shares of the company’s stock after buying an additional 111,250 shares during the period. Millennium Management LLC owned about 0.17% of Liberty Media worth $12,991,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Liberty Media during the 4th quarter valued at about $109,000. LS Investment Advisors LLC acquired a new stake in shares of Liberty Media during the 4th quarter valued at about $110,000. Assetmark Inc. grew its position in shares of Liberty Media by 16,878.9% during the 4th quarter. Assetmark Inc. now owns 3,226 shares of the company’s stock valued at $110,000 after acquiring an additional 3,207 shares during the period. American International Group Inc. acquired a new stake in shares of Liberty Media during the 4th quarter valued at about $134,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in shares of Liberty Media during the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 86.19% of the company’s stock.
Several equities research analysts recently issued reports on FWONK shares. Morgan Stanley upgraded Liberty Media from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective on the stock in a report on Tuesday, January 30th. Zacks Investment Research cut Liberty Media from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Finally, ValuEngine cut Liberty Media from a “hold” rating to a “sell” rating in a report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Liberty Media currently has an average rating of “Buy” and a consensus price target of $44.14.
Liberty Media (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, March 1st. The company reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $2.24. The firm had revenue of $570.00 million for the quarter, compared to analysts’ expectations of $564.40 million. research analysts predict that Liberty Media Co. will post -0.66 earnings per share for the current year.
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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