Kornitzer Capital Management Inc. KS Takes $5.03 Million Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Kornitzer Capital Management Inc. KS 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 disclosure with the Securities and Exchange Commission. The institutional investor purchased 59,170 shares of the company’s stock, valued at approximately $5,031,000.

A number of other large investors also recently bought and sold shares of the business. Silver Point Capital L.P. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at approximately $302,000. Berkshire Hathaway Inc acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth approximately $297,358,000. Naya Capital Management UK Ltd. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at approximately $208,238,000. Norges Bank purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at approximately $195,762,000. Finally, Franklin Resources Inc. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after acquiring an additional 841,729 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. decreased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Bank of America lifted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their target price 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 note 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 research report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.14.

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

In other news, insider Renee L. Wilm sold 11,597 shares of the 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 completion of the sale, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Liberty Media Corporation – Liberty Formula One Series C stock traded up $0.22 during trading on Friday, reaching $96.13. 1,483,710 shares of the company were exchanged, compared to its average volume of 2,060,985. The stock’s 50 day simple moving average is $91.28 and its two-hundred day simple moving average is $89.52. The company has a market capitalization of $21.54 billion, a P/E ratio of 44.10 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36.

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 company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. As a group, equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

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.