Jericho Capital Asset Management L.P. Raises Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Jericho Capital Asset Management L.P. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,542,396 shares of the company’s stock after purchasing an additional 688,000 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C comprises approximately 5.1% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 5th largest position. Jericho Capital Asset Management L.P. owned 1.82% of Liberty Media Corporation – Liberty Formula One Series C worth $447,471,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation National Association UT boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $34,000. Headlands Technologies LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $38,000. Osterweis Capital Management Inc. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 70.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after purchasing an additional 175 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. dropped their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. UBS Group decreased their price objective 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 report on Wednesday, April 15th. 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 report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.75.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.8%

Shares of NASDAQ FWONK opened at $90.35 on Thursday. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The firm has a market cap of $20.25 billion, a P/E ratio of 41.45 and a beta of 0.47. The company has a 50 day moving average of $89.32 and a 200 day moving average of $89.46.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. As a group, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.31% of the stock is owned by insiders.

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.