Principal Financial Group Inc. Decreases Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Principal Financial Group Inc. lessened its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,566,018 shares of the company’s stock after selling 603,441 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of Liberty Media Corporation – Liberty Formula One Series C worth $1,312,524,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ASR Vermogensbeheer N.V. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.6% during the second quarter. ASR Vermogensbeheer N.V. now owns 24,426 shares of the company’s stock worth $2,552,000 after buying an additional 1,304 shares during the period. Lecap Asset Management Ltd. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth $323,000. SteelPeak Wealth LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth $227,000. KLP Kapitalforvaltning AS lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 5.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 71,900 shares of the company’s stock worth $7,514,000 after acquiring an additional 3,700 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 4.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 10,195 shares of the company’s stock valued at $1,065,000 after purchasing an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Insider Activity

In related news, Director Chase Carey sold 109,121 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $102.54, for a total transaction of $11,189,267.34. Following the completion of the transaction, the director owned 93,102 shares in the company, valued at $9,546,679.08. This represents a 53.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee L. Wilm sold 11,200 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $91.89, for a total value of $1,029,168.00. Following the completion of the sale, the insider owned 21,037 shares in the company, valued at approximately $1,933,089.93. The trade was a 34.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 368,363 shares of company stock valued at $36,650,423. Insiders own 4.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FWONK shares. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. JPMorgan Chase & Co. raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company lifted their price objective 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, Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.2%

NASDAQ FWONK opened at $87.02 on Friday. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 111.57 and a beta of 0.47. The stock has a 50-day moving average of $93.28 and a 200 day moving average of $98.18. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Equities analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current fiscal 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.