Ashe Capital Management LP lessened its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) by 28.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,891,024 shares of the company’s stock after selling 740,024 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C comprises about 18.1% of Ashe Capital Management LP’s holdings, making the stock its 3rd largest holding. Ashe Capital Management LP owned 0.76% of Liberty Media Corporation – Liberty Formula One Series C worth $186,285,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. grew its position in Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after acquiring an additional 170,435 shares during the period. Cresset Asset Management LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth approximately $502,000. Daiwa Securities Group Inc. grew its position in Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after acquiring an additional 6,285 shares during the period. Qube Research & Technologies Ltd purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth approximately $1,863,000. Finally, Squarepoint Ops LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth approximately $1,255,000. Institutional investors and hedge funds own 92.26% of the company’s stock.
Liberty Media Corporation – Liberty Formula One Series C Stock Performance
Shares of FWONK stock opened at $90.35 on Thursday. The stock’s 50-day moving average is $89.32 and its two-hundred day moving average is $89.46. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 41.45 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36.
Insider Activity
In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on FWONK shares. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. 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 for the company in a research report on Wednesday, April 15th. Weiss Ratings upgraded 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. JPMorgan Chase & Co. lowered their price objective on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Wells Fargo & Company increased 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 report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and an average target price of $111.75.
Check Out Our Latest Stock Analysis on FWONK
Liberty Media Corporation – Liberty Formula One Series C 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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