West Tower Group LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,000 shares of the company’s stock, valued at approximately $690,000. Liberty Media Corporation – Liberty Formula One Series C comprises 1.6% of West Tower Group LLC’s holdings, making the stock its 16th biggest holding.
A number of other hedge funds also recently added to or reduced their stakes in FWONK. Invesco Ltd. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock valued at $52,701,000 after buying an additional 170,435 shares during the last quarter. Cresset Asset Management LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $502,000. Daiwa Securities Group Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock valued at $3,902,000 after buying an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $1,863,000. Finally, Squarepoint Ops LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $1,255,000. 92.26% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. UBS Group cut their target price on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and an average price target of $111.67.
Liberty Media Corporation – Liberty Formula One Series C Trading Down 2.2%
Shares of FWONK opened at $90.69 on Wednesday. The business’s 50-day moving average price is $86.99 and its 200 day moving average price is $90.99. The stock has a market capitalization of $20.34 billion, a P/E ratio of 41.60, a P/E/G ratio of 15.30 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36.
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. On average, research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.86 earnings per share for the current year.
Liberty Media Corporation – Liberty Formula One Series C Profile
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ: FWONK) is a tracking stock that represents Liberty Media’s economic interest in the Formula One Group, the commercial operator of the FIA Formula One World Championship. Liberty Media is a diversified media and entertainment company that owns and manages a portfolio of media, communications and entertainment businesses. The Formula One Group conducts the commercial activities of one of the world’s largest motor sports properties, packaging live races, media rights, sponsorships, licensing and related consumer products around a global sporting calendar.
The Formula One business comprises the sale and distribution of broadcast and digital media rights, race promotion and event management, sponsorship and brand partnerships, merchandising and licensing, and direct-to-consumer digital products and services.
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