Maplelane Capital LLC lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) by 21.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,500 shares of the company’s stock after purchasing an additional 30,500 shares during the period. Liberty Media Corporation – Liberty Formula One Series C accounts for about 0.5% of Maplelane Capital LLC’s portfolio, making the stock its 29th largest holding. Maplelane Capital LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $14,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in FWONK. Silver Point Capital L.P. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at approximately $302,000. Berkshire Hathaway Inc purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth approximately $297,358,000. Naya Capital Management UK Ltd. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth approximately $208,238,000. Norges Bank acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth $195,762,000. Finally, Franklin Resources Inc. boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after buying an additional 841,729 shares during the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
FWONK has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price 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. UBS Group lowered 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 report on Wednesday, April 15th. Bank of America upped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 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 research report on Friday, May 1st. Finally, Wall Street Zen upgraded 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. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $110.20.
Liberty Media Corporation – Liberty Formula One Series C Stock Performance
Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $97.05 on Friday. The stock has a 50 day moving average of $92.96 and a 200 day moving average of $89.62. The firm has a market capitalization of $21.75 billion, a price-to-earnings ratio of 44.52 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 posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. Analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.
Insider Activity
In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.31% of the company’s stock.
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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