11,271 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK Acquired by SeaCrest Wealth Management LLC

Key Points

• SeaCrest Wealth Management acquired 11,271 FWONK shares worth approximately $1.04 million in the third quarter. Institutional investors collectively own 92.26% of the stock.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $115.50, although ratings range from Strong Buy to Strong Sell.
• FWONK opened at $91.15 and trades below its 52-week high of $107.31. The company’s latest quarterly results missed expectations, reporting $0.02 in EPS versus the $0.24 consensus estimate and revenue of $934 million versus $952.78 million expected.

SeaCrest Wealth Management LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,271 shares of the company's stock, valued at approximately $1,041,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 18.8% in the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock worth $104,000 after buying an additional 178 shares during the period. NewEdge Wealth LLC raised its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.3% during the 1st quarter. NewEdge Wealth LLC now owns 6,142 shares of the company's stock valued at $522,000 after buying an additional 196 shares during the period. Assetmark Inc. raised its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 25.1% during the 1st quarter. Assetmark Inc. now owns 1,162 shares of the company's stock valued at $99,000 after buying an additional 233 shares during the period. IFP Advisors Inc raised its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 148.5% during the 3rd quarter. IFP Advisors Inc now owns 420 shares of the company's stock valued at $39,000 after buying an additional 251 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Liberty Media Corporation - Liberty Formula One Series C by 4.8% during the 1st quarter. QRG Capital Management Inc. now owns 6,561 shares of the company's stock worth $558,000 after acquiring an additional 303 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on FWONK shares. Zacks Research upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "strong sell" rating in a research report on Sunday, October 11th. Finally, Guggenheim upped their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.50.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of Liberty Media Corporation - Liberty Formula One Series C stock opened at $91.15 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $107.31. The company has a market capitalization of $20.45 billion, a PE ratio of 134.22 and a beta of 0.46. The business has a 50-day moving average of $96.32 and a 200-day moving average of $94.13.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to analysts' expectations of $952.78 million. On average, equities analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 earnings per share for the current fiscal year.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Series C tracking stock represents an economic interest in the company's Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport's international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.

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