Pinnbrook Capital Management LP purchased a new position 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 filing with the Securities and Exchange Commission. The fund purchased 36,319 shares of the company’s stock, valued at approximately $3,578,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Axxcess Wealth Management LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 2.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company’s stock valued at $552,000 after acquiring an additional 119 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after acquiring an additional 120 shares in the last quarter. Compound Planning Inc. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 6.1% in the 3rd quarter. Compound Planning Inc. now owns 2,094 shares of the company’s stock valued at $219,000 after acquiring an additional 121 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 36.0% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 548 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 0.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company’s stock valued at $3,234,000 after acquiring an additional 149 shares in the last quarter. 92.26% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Weiss Ratings raised 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. UBS Group lowered their price objective 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 report on Wednesday, April 15th. Wells Fargo & Company upped their price objective 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 research report on Friday, May 8th. Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, JPMorgan Chase & Co. lowered their price objective on 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. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.67.
Liberty Media Corporation – Liberty Formula One Series C Price Performance
NASDAQ FWONK opened at $89.20 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36. The business’s fifty day moving average price is $87.59 and its 200-day moving average price is $90.68. The stock has a market capitalization of $19.99 billion, a price-to-earnings ratio of 40.92 and a beta of 0.44.
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.03 EPS 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 the consensus estimate of $683.42 million. Equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current year.
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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