Clearbridge Investments LLC trimmed its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,718,546 shares of the company’s stock after selling 69,224 shares during the quarter. Clearbridge Investments LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $169,294,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth $34,000. Headlands Technologies LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $38,000. Osterweis Capital Management Inc. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $39,000. FNY Investment Advisers LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at $48,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after purchasing an additional 120 shares in the last quarter. 92.26% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on FWONK shares. Weiss Ratings raised Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wells Fargo & Company upped their price target on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. UBS Group lowered their price target 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 report on Wednesday, April 15th. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. lowered their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Five investment 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, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and an average target price of $111.75.
Liberty Media Corporation – Liberty Formula One Series C Stock Performance
Liberty Media Corporation – Liberty Formula One Series C stock opened at $87.68 on Monday. The stock has a market cap of $19.65 billion, a PE ratio of 40.22 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The stock has a fifty day moving average of $88.67 and a 200 day moving average of $89.78.
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. As a group, sell-side analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.98 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the sale, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.31% of the company’s stock.
About Liberty Media Corporation – Liberty Formula One Series C
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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