Teachers Retirement System of The State of Kentucky Trims Stock Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 15.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,768 shares of the company’s stock after selling 10,459 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $4,826,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after buying an additional 841,729 shares during the period. Berkshire Hathaway Inc purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter valued at $297,358,000. JPMorgan Chase & Co. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock valued at $37,375,000 after buying an additional 89,673 shares during the period. Braun Stacey Associates Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.3% in the first quarter. Braun Stacey Associates Inc. now owns 276,480 shares of the company’s stock valued at $23,506,000 after acquiring an additional 14,039 shares in the last quarter. Finally, Diversified Trust Co. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $2,469,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.2%

FWONK opened at $100.87 on Wednesday. The firm has a market cap of $22.60 billion, a price-to-earnings ratio of 46.27 and a beta of 0.44. 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 stock has a fifty day moving average price of $91.82 and a 200-day moving average price of $89.51.

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

Insider Activity

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

Analysts Set New Price Targets

A number of research firms recently weighed in on FWONK. JPMorgan Chase & Co. lowered their price objective 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. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Wells Fargo & Company boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. UBS Group lowered their price target 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 research report on Wednesday, April 15th. Finally, Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. 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 $111.14.

Liberty Media Corporation – Liberty Formula One Series C Profile

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.