Sellaronda Global Management LP Buys New Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Sellaronda Global Management LP purchased a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 400,000 shares of the company’s stock, valued at approximately $34,008,000. Liberty Media Corporation – Liberty Formula One Series C comprises about 22.3% of Sellaronda Global Management LP’s portfolio, making the stock its biggest position. Sellaronda Global Management LP owned approximately 0.18% of Liberty Media Corporation – Liberty Formula One Series C 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. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $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. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth $208,238,000. Norges Bank purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at $195,762,000. Finally, Franklin Resources Inc. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after buying an additional 841,729 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

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

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

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.5%

FWONK stock opened at $96.48 on Friday. The company has a market capitalization of $21.62 billion, a P/E ratio of 44.26 and a beta of 0.44. The business has a 50 day simple moving average of $92.81 and a 200-day simple moving average of $89.56. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. Research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FWONK. UBS Group decreased their price target on 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. JPMorgan Chase & Co. raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, 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 report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.20.

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.