North Dakota State Investment Board bought a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,403 shares of the company’s stock, valued at approximately $729,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FWONK. Cantillon Capital Management LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at approximately $121,803,000. Vanguard Group Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock valued at $2,081,841,000 after buying an additional 715,525 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at approximately $69,318,000. Hawk Ridge Capital Management LP purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at approximately $63,244,000. Finally, Jain Global LLC lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 6,361.7% in the 3rd quarter. Jain Global LLC now owns 419,042 shares of the company’s stock valued at $43,769,000 after buying an additional 412,557 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Wells Fargo & Company boosted 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 cut their price target on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. JPMorgan Chase & Co. cut their price target on Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings upgraded 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. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.67.
Liberty Media Corporation – Liberty Formula One Series C Stock Performance
Shares of FWONK opened at $90.44 on Thursday. The stock has a fifty day moving average of $87.52 and a two-hundred day moving average of $90.76. The company has a market capitalization of $20.27 billion, a PE ratio of 41.49 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36.
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. As a group, equities research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current fiscal year.
Liberty Media Corporation – Liberty Formula One Series C Company 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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