Liberty Media Corporation – Liberty Formula One Series C $FWONK Stock Position Trimmed by M.D. Sass LLC

M.D. Sass LLC trimmed its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 36.3% in the third quarter, HoldingsChannel reports. The firm owned 340,094 shares of the company’s stock after selling 194,032 shares during the period. Liberty Media Corporation – Liberty Formula One Series C makes up 2.9% of M.D. Sass LLC’s investment portfolio, making the stock its 20th largest position. M.D. Sass LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $35,523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in FWONK. Schroder Investment Management Group raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.9% during the second quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company’s stock valued at $904,653,000 after buying an additional 402,705 shares during the last quarter. Geode Capital Management LLC increased its position in Liberty Media Corporation – Liberty Formula One Series C by 3.4% in 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 during the period. Bank of America Corp DE raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 3.8% during the 2nd quarter. Bank of America Corp DE now owns 2,665,969 shares of the company’s stock valued at $278,594,000 after acquiring an additional 98,354 shares in the last quarter. Norges Bank bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $208,588,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,916,759 shares of the company’s stock worth $200,301,000 after acquiring an additional 12,466 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction that occurred on 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 approximately $9,147,814.20. This trade represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 357,163 shares of company stock worth $35,621,255 over the last ninety days. 4.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FWONK. JPMorgan Chase & Co. raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Wells Fargo & Company raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.2%

NASDAQ:FWONK opened at $87.16 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $75.26 and a 52-week high of $109.36. The firm has a market cap of $21.79 billion, a P/E ratio of 111.75 and a beta of 0.48. The business’s 50-day moving average price is $92.62 and its 200 day moving average price is $97.75.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.18). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. Sell-side analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

Liberty Media Corporation – Liberty Formula One Series C Company 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.