Liberty Media Corporation – Liberty Formula One Series C $FWONK Holdings Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 490,736 shares of the company’s stock after selling 18,555 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $41,722,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Silver Point Capital L.P. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth about $302,000. Berkshire Hathaway Inc acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth approximately $297,358,000. Naya Capital Management UK Ltd. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at approximately $208,238,000. Norges Bank acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter valued at approximately $195,762,000. Finally, Franklin Resources Inc. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth 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.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $96.13 on Monday. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The company has a market capitalization of $21.54 billion, a P/E ratio of 44.10 and a beta of 0.44. The company’s 50 day simple moving average is $91.28 and its 200 day simple moving average is $89.46.

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 for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. On average, analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FWONK shares. Wells Fargo & Company upped their target price 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. Weiss Ratings upgraded 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. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. UBS Group cut their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.14.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction on 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 directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction on 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 sale, the director directly 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.

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.