Liberty Media Corporation – Liberty Formula One Series C $FWONK Stock Position Cut by Madison Asset Management LLC

Madison Asset Management LLC reduced its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 970,479 shares of the company’s stock after selling 14,709 shares during the period. Liberty Media Corporation – Liberty Formula One Series C accounts for approximately 1.1% of Madison Asset Management LLC’s holdings, making the stock its 27th biggest position. Madison Asset Management LLC owned approximately 0.43% of Liberty Media Corporation – Liberty Formula One Series C worth $101,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $38,000. Osterweis Capital Management Inc. bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at about $39,000. Root Financial Partners LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $41,000. Caitong International Asset Management Co. Ltd bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $46,000. Finally, Farther Finance Advisors LLC lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 138.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock valued at $47,000 after acquiring an additional 262 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

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

In related news, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director owned 94,356 shares of the company’s stock, valued at $9,147,814.20. This trade represents a 46.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. 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 stock an “underweight” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Sanford C. Bernstein raised 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. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and an average price target of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.6%

FWONK opened at $85.73 on Wednesday. The company has a market cap of $21.44 billion, a P/E ratio of 109.91 and a beta of 0.48. The company’s 50 day moving average is $92.04 and its 200-day moving average is $97.29. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $75.26 and a 1-year high of $109.36.

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.