Investment firm Hound Partners LLC has significantly increased its shareholding in Liberty Media Corporation – Liberty Live Series C, boosting its stake by 84.7% during the second quarter of 2023. According to HoldingsChannel.com, Hound Partners now holds 219,194 shares of the company after acquiring an additional 100,543 shares in this period. This investment represents approximately 2.4% of Hound Partners’ overall portfolio, making Liberty Media its 13th largest holding.
As of its latest filing with the U.S. Securities and Exchange Commission (SEC), Hound Partners’ shares in Liberty Media were valued at about $17,790,000. Other institutional investors have also been active in their dealings with Liberty Media this year. For instance, T. Rowe Price Investment Management Inc. increased its stake by 20.5% in the first quarter, bringing its total to 8,395,466 shares, valued at approximately $572,068,000 after acquiring an additional 1,426,605 shares.
In the second quarter, Bamco Inc. NY enhanced its holdings by 19.2%, now owning 1,417,398 shares valued at $115,036,000. Additionally, Geode Capital Management LLC raised its position by 1.5%, resulting in ownership of 831,062 shares worth $67,460,000, while State Street Corp increased its holdings by 2.2% to 825,898 shares valued at $67,030,000. Furthermore, Norges Bank acquired a new stake in Liberty Media during the second quarter, valued at $58,978,000. Currently, approximately 60.36% of Liberty Media’s stock is held by hedge funds and institutional investors.
Analyst Ratings and Stock Performance
Several analysts have provided insights regarding Liberty Media’s performance. On October 8, 2023, Weiss Ratings reiterated a “sell (d)” rating on Liberty Media’s shares, while Zacks Research upgraded the stock to a “hold” rating on September 9, 2023. Overall, one analyst has rated the stock with a Hold rating, and another has issued a Sell rating. According to MarketBeat, the consensus rating for Liberty Media’s stock is currently “Reduce.”
As of recent trading, Liberty Media Corporation – Liberty Live Series C (NASDAQ: LLYVK) opened at $85.20. The stock has been performing relatively steadily, with a fifty-day simple moving average of $85.75 and a 200-day simple moving average of $86.44. The company boasts a market capitalization of $7.83 billion, with a price-to-earnings (P/E) ratio of -22.07 and a beta of 1.41. Over the past year, shares have fluctuated between a low of $60.55 and a high of $102.62.
About Liberty Media Corporation
Liberty Media Corporation operates primarily in the media, communications, and entertainment sectors across North America and the United Kingdom. The company is headquartered in Englewood, Colorado, and continues to be a significant player in its industry. For those interested in tracking the latest developments regarding Liberty Media and its stock, HoldingsChannel.com provides comprehensive insights including 13F filings and insider trades.
Investors and analysts alike are keeping a close eye on Liberty Media as institutional interest continues to grow and stock performance remains a topic of discussion in financial circles.
