Sumitomo Mitsui Trust Group Inc. Cuts Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Sumitomo Mitsui Trust Group Inc. reduced its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 517,124 shares of the company’s stock after selling 4,038 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Liberty Media Corporation – Liberty Formula One Series C worth $54,039,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. S Bank Fund Management Ltd bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $347,000. Praxis Investment Management Inc. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 28.1% during the second quarter. Praxis Investment Management Inc. now owns 12,640 shares of the company’s stock valued at $1,321,000 after purchasing an additional 2,770 shares in the last quarter. Cooper Investors PTY Ltd. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 6.6% during the second quarter. Cooper Investors PTY Ltd. now owns 202,538 shares of the company’s stock valued at $21,165,000 after purchasing an additional 12,580 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 25.8% during the first quarter. Voya Investment Management LLC now owns 62,413 shares of the company’s stock valued at $5,618,000 after purchasing an additional 12,817 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 22.7% during the first quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company’s stock valued at $11,570,000 after purchasing an additional 23,809 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FWONK. Wells Fargo & Company lowered their price target on Liberty Media Corporation – Liberty Formula One Series C from $87.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, August 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $120.00 price target on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Tuesday, July 22nd. Guggenheim increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. UBS Group increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $98.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.22.

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

In related news, Director Malcolm Ian Grant Gilchrist sold 898 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the sale, the director owned 1,781 shares of the company’s stock, valued at approximately $178,456.20. This trade represents a 33.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 5,651 shares of company stock worth $572,250. 4.31% of the stock is currently owned by company insiders.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 0.2%

Shares of NASDAQ:FWONK opened at $94.84 on Tuesday. The stock has a 50 day moving average of $101.70 and a 200 day moving average of $98.47. The company has a market cap of $21.21 billion, a PE ratio of 92.98 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $75.26 and a 12-month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.71. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. Equities research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

About Liberty Media Corporation – Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.