Fred Alger Management LLC grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) by 6.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,269,193 shares of the company’s stock after purchasing an additional 80,378 shares during the quarter. Fred Alger Management LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $125,028,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of FWONK. Invesco Ltd. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after purchasing an additional 170,435 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $502,000. Daiwa Securities Group Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after purchasing an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $1,863,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $1,255,000. 92.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Chase Carey sold 100,000 shares of the stock in a transaction dated 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 directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.
Liberty Media Corporation – Liberty Formula One Series C Price Performance
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. Analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have issued reports on FWONK. UBS Group decreased their price target 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. 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 note on Saturday, June 6th. 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 report on Friday, May 1st. Wells Fargo & Company increased their price objective 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 report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price objective 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 report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.75.
Get Our Latest Analysis on FWONK
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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Want to see what other hedge funds are holding FWONK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report).
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