Liberty Media Formula One Series C (NASDAQ:FWONK) Shares Sold by Morgan Stanley

Morgan Stanley decreased its position in Liberty Media Formula One Series C (NASDAQ:FWONK) by 90.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,089 shares of the company’s stock after selling 2,610,178 shares during the quarter. Morgan Stanley owned 0.12% of Liberty Media Formula One Series C worth $10,404,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FWONK. Robeco Institutional Asset Management B.V. grew its position in Liberty Media Formula One Series C by 17.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 5,263 shares of the company’s stock valued at $196,000 after acquiring an additional 779 shares in the last quarter. LPL Financial LLC acquired a new stake in Liberty Media Formula One Series C in the second quarter valued at approximately $201,000. Pathstone Family Office LLC grew its position in Liberty Media Formula One Series C by 551.0% in the second quarter. Pathstone Family Office LLC now owns 5,735 shares of the company’s stock valued at $214,000 after acquiring an additional 4,854 shares in the last quarter. Arden Trust Co acquired a new stake in Liberty Media Formula One Series C in the second quarter valued at approximately $222,000. Finally, Marshall Wace North America L.P. acquired a new stake in Liberty Media Formula One Series C in the first quarter valued at approximately $234,000. 82.20% of the stock is owned by institutional investors.

Several equities analysts have recently commented on FWONK shares. Zacks Investment Research cut Liberty Media Formula One Series C from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. ValuEngine cut Liberty Media Formula One Series C from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded Liberty Media Formula One Series C from a “neutral” rating to an “overweight” rating and increased their target price for the company from $38.00 to $50.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.00.

Liberty Media Formula One Series C stock opened at $41.11 on Tuesday. The stock has a market cap of $9.47 billion, a P/E ratio of -63.25 and a beta of 0.95. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $41.50 and a 200-day moving average of $38.96. Liberty Media Formula One Series C has a 52 week low of $27.51 and a 52 week high of $43.05.

Liberty Media Formula One Series C (NASDAQ:FWONK) last released its earnings results on Thursday, August 8th. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.25). The business had revenue of $620.00 million for the quarter, compared to analysts’ expectations of $616.52 million. Liberty Media Formula One Series C had a negative net margin of 18.41% and a negative return on equity of 1.63%. As a group, equities analysts predict that Liberty Media Formula One Series C will post -1.14 earnings per share for the current fiscal year.

About Liberty Media Formula One Series C

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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Institutional Ownership by Quarter for Liberty Media Formula One Series C (NASDAQ:FWONK)

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