Norges Bank Invests $195.76 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Norges Bank acquired a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,987,228 shares of the company’s stock, valued at approximately $195,762,000.

A number of other institutional investors have also made changes to their positions in FWONK. Advisory Services Network LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth $34,000. Headlands Technologies LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $38,000. Osterweis Capital Management Inc. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $39,000. FNY Investment Advisers LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth $48,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock worth $56,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of 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 report on Friday, May 8th. Weiss Ratings raised 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. Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. JPMorgan Chase & Co. cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Finally, UBS Group cut 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 for the company in a research note on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and an average target price of $111.22.

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

In related news, Director Chase Carey sold 100,000 shares of the firm’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 in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK opened at $89.32 on Wednesday. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The company has a market capitalization of $20.02 billion, a P/E ratio of 40.97 and a beta of 0.47. The company has a 50-day simple moving average of $88.29 and a 200 day simple moving average of $90.13.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. As a group, equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current year.

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.