Resona Asset Management Co. Ltd. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) by 21.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 97,236 shares of the company’s stock after acquiring an additional 17,405 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $8,248,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Credit Industriel ET Commercial acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at $1,522,000. V Square Quantitative Management LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 1st quarter worth about $51,000. QRG Capital Management Inc. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.8% in the 1st quarter. QRG Capital Management Inc. now owns 6,561 shares of the company’s stock valued at $558,000 after buying an additional 303 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 72.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 207,297 shares of the company’s stock valued at $17,624,000 after buying an additional 87,100 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at about $11,134,000. Institutional investors and hedge funds own 92.26% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on FWONK shares. Wells Fargo & Company lifted their price objective on 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 note on Friday, May 8th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Bank of America raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. dropped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Finally, UBS Group reduced their price objective on shares of 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. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.14.
Liberty Media Corporation – Liberty Formula One Series C Price Performance
Shares of Liberty Media Corporation – Liberty Formula One Series C stock traded up $0.22 on Friday, hitting $96.13. 1,483,710 shares of the company’s stock traded hands, compared to its average volume of 2,060,985. The company has a fifty day moving average of $91.28 and a two-hundred day moving average of $89.52. 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 company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 44.10 and a beta of 0.44.
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last issued its 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 business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. Equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.
Insider Activity at Liberty Media Corporation – Liberty Formula One Series C
In other news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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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