Financiere des Professionnels Fonds d investissement inc. Purchases New Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the 1st quarter, Holdings Channel reports. The fund acquired 38,769 shares of the company’s stock, valued at approximately $3,296,000.

Several other hedge funds also recently made changes to their positions in FWONK. Vanguard Group Inc. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock valued at $2,081,841,000 after purchasing an additional 715,525 shares during the last quarter. Principal Financial Group Inc. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock worth $1,250,671,000 after buying an additional 129,822 shares during the last quarter. Silver Point Capital L.P. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth approximately $302,000. Jericho Capital Asset Management L.P. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 17.8% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company’s stock worth $447,471,000 after acquiring an additional 688,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,983,116 shares of the company’s stock valued at $391,290,000 after acquiring an additional 36,599 shares during the period. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Monday, June 15th. The stock was 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 in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 0.3%

NASDAQ FWONK opened at $99.74 on Friday. The stock has a market capitalization of $22.35 billion, a P/E ratio of 45.75 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. The firm has a 50-day moving average price of $92.18 and a 200 day moving average price of $89.55.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FWONK shares. JPMorgan Chase & Co. decreased their price target on shares of 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. Bank of America lifted their price objective 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 note on Monday, July 6th. UBS Group reduced their target price on shares of 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. Wells Fargo & Company increased 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 raised 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. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.14.

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.