17,900 Shares in Liberty Media Corporation - Liberty Formula One Series C $FWONK Acquired by Credit Industriel ET Commercial

Key Points

• Credit Industriel ET Commercial opened a new position in Liberty Media Formula One Series C, buying 17,900 shares worth about $1.52 million in the first quarter.
• Other institutional investors also adjusted their FWONK holdings, and institutions now own a very large majority of the stock at 92.26%.
• Insider activity included notable sales by Renee L. Wilm and Chase Carey, while analysts remain generally constructive with an average Moderate Buy rating and a consensus price target of $111.14.

Credit Industriel ET Commercial bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,900 shares of the company's stock, valued at approximately $1,522,000.

A number of other hedge funds also recently modified their holdings of FWONK. Zions Bancorporation National Association UT grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock worth $29,000 after buying an additional 188 shares in the last quarter. Advisory Services Network LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at approximately $34,000. Headlands Technologies LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $38,000. Osterweis Capital Management Inc. acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Liberty Media Corporation - Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock worth $42,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 92.26% of the company's stock.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the company's stock in a transaction on 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 completion of the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FWONK shares. Wells Fargo & Company increased their target price on Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. UBS Group decreased 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. Wall Street Zen upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Weiss Ratings raised 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. Finally, Bank of America lifted their price objective 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. 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, the company currently has an average rating of "Moderate Buy" and an average price target of $111.14.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.2%

Shares of FWONK opened at $99.20 on Tuesday. The business's 50-day moving average price is $90.46 and its 200-day moving average price is $89.46. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The stock has a market cap of $22.23 billion, a PE ratio of 45.81 and a beta of 0.44.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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. Analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

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.

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