Liberty Media Co. (NASDAQ:FWONK) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 19,090,367 shares, an increase of 26.7% from the February 15th total of 15,062,703 shares. Based on an average daily trading volume, of 1,554,909 shares, the short-interest ratio is currently 12.3 days.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Liberty Media from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, February 1st. Morgan Stanley upgraded Liberty Media from an “equal weight” rating to an “overweight” rating and set a $39.00 price target on the stock in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $44.14.
Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in shares of 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 purchasing an additional 6,774,151 shares during the period. BlackRock Inc. lifted its stake in shares of 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 purchasing an additional 1,606,993 shares during the period. Harbor Spring Capital LLC lifted its stake in shares of Liberty Media by 112.7% during the 3rd quarter. Harbor Spring Capital LLC now owns 2,000,000 shares of the company’s stock worth $76,180,000 after purchasing an additional 1,059,778 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Liberty Media during the 3rd quarter worth $38,299,000. Finally, Stockbridge Partners LLC lifted its stake in shares of Liberty Media by 62.4% during the 3rd quarter. Stockbridge Partners LLC now owns 2,338,770 shares of the company’s stock worth $89,084,000 after purchasing an additional 898,909 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
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About Liberty Media
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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