600,000 Shares in Liberty Media Corporation – Liberty Formula One Series C $FWONK Bought by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 600,000 shares of the company’s stock, valued at approximately $51,012,000. Liberty Media Corporation – Liberty Formula One Series C accounts for approximately 1.0% of Southpoint Capital Advisors LP’s portfolio, making the stock its 28th largest holding.

A number of other institutional investors also recently modified their holdings of the company. Silver Point Capital L.P. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $302,000. Berkshire Hathaway Inc acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at approximately $297,358,000. Naya Capital Management UK Ltd. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at approximately $208,238,000. Norges Bank bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at approximately $195,762,000. Finally, Franklin Resources Inc. boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after acquiring an additional 841,729 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Chase Carey sold 100,000 shares of the business’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 owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Monday, June 15th. The stock was 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 owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Ratings Changes

Several brokerages have recently weighed in on FWONK. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Bank of America increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on shares of 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, July 21st. Weiss Ratings upgraded 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. Finally, Wells Fargo & Company boosted their price target on 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. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $110.20.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $98.33 on Tuesday. 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 $22.04 billion, a price-to-earnings ratio of 45.11 and a beta of 0.44. The company has a 50-day simple moving average of $93.11 and a 200 day simple moving average of $89.57.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. Sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

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.