Liberty Media Corporation – Liberty Formula One Series C $FWONK Position Increased by Royal Bank of Canada

Royal Bank of Canada boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 13.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 611,807 shares of the company’s stock after purchasing an additional 72,334 shares during the quarter. Royal Bank of Canada owned approximately 0.27% of Liberty Media Corporation – Liberty Formula One Series C worth $52,015,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock worth $2,081,841,000 after buying an additional 715,525 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock valued at $1,250,671,000 after acquiring an additional 129,822 shares during the period. Silver Point Capital L.P. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $302,000. The Manufacturers Life Insurance Company grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company’s stock worth $396,626,000 after acquiring an additional 981,047 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 17.8% in the 4th 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 period. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $98.13 on Monday. The company has a market capitalization of $21.99 billion, a P/E ratio of 45.01 and a beta of 0.43. The company has a 50-day simple moving average of $93.97 and a 200 day simple moving average of $89.83. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. Equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 EPS for the current year.

Analysts Set New Price Targets

FWONK has been the subject of a number of analyst reports. Guggenheim boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Bank of America raised their price target 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. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. UBS Group reduced 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 research report on Wednesday, April 15th. Finally, Sanford C. Bernstein boosted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $114.00.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the company’s 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 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 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.