Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 15.0% during the third quarter, Holdings Channel reports. The firm owned 1,188,815 shares of the company’s stock after selling 209,436 shares during the quarter. Fred Alger Management LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $124,172,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FWONK. Allspring Global Investments Holdings LLC raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company’s stock worth $20,871,000 after buying an additional 10,620 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $1,255,000. Assenagon Asset Management S.A. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 79.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company’s stock valued at $8,947,000 after acquiring an additional 38,054 shares during the last quarter. Cantillon Capital Management LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at about $121,803,000. Finally, Geode Capital Management LLC increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company’s stock valued at $400,694,000 after acquiring an additional 126,501 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In other news, Director Chase Carey sold 83,536 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the completion of the sale, the director directly owned 94,356 shares in the company, valued at $9,147,814.20. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several analysts have issued reports on FWONK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Wells Fargo & Company raised shares of Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $93.00 to $95.00 in a research note on Friday, February 27th. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $110.00 to $111.00 in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.56.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 1.8%

Shares of FWONK stock opened at $83.66 on Monday. The firm has a 50-day moving average price of $88.03 and a 200 day moving average price of $95.17. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 12.03 and a beta of 0.44.

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.