Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Purchased by Annex Advisory Services LLC

Annex Advisory Services LLC raised its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 28.8% in the second quarter, Holdings Channel reports. The fund owned 566,357 shares of the company’s stock after buying an additional 126,809 shares during the period. Annex Advisory Services LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $53,883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FWONK. Silver Point Capital L.P. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at approximately $302,000. Berkshire Hathaway Inc purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $297,358,000. Naya Capital Management UK Ltd. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $208,238,000. Norges Bank acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth $195,762,000. Finally, Bank of America Corp DE increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 43.2% in the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after buying an additional 1,376,984 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $102.38 on Wednesday. The firm’s fifty day moving average price is $95.28 and its 200 day moving average price is $90.32. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 150.56 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $952.78 million. As a group, sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2.13 earnings per share for the current year.

Insider Activity

In other news, insider Renee L. Wilm sold 11,597 shares of the business’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 completion of the sale, the insider directly owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly 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 SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wells Fargo & Company upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Guggenheim increased their price objective on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Sanford C. Bernstein raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and an average target price of $116.50.

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.