Aigen Investment Management LP Takes Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Aigen Investment Management opened a new position in Liberty Media Formula One Series C, buying 25,215 shares worth about $2.48 million in the fourth quarter.
• Institutional ownership in FWONK remains very high at 92.26%, with several large investors such as Norges Bank, Vanguard, and Franklin Resources also adding or taking positions.
• Analysts remain mixed but broadly constructive: the stock has a Moderate Buy consensus with a $111.75 price target, while the company recently beat quarterly EPS and revenue expectations.

Aigen Investment Management LP bought a new stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,215 shares of the company's stock, valued at approximately $2,484,000.

A number of other institutional investors have also modified their holdings of FWONK. Norges Bank acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter valued at $195,762,000. Franklin Resources Inc. increased 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 valued at $114,192,000 after acquiring an additional 841,729 shares during the period. Vanguard Group Inc. increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company's stock valued at $2,081,841,000 after acquiring an additional 715,525 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter valued at $69,318,000. Finally, Hawk Ridge Capital Management LP acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 3rd quarter valued at $63,244,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FWONK. 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. JPMorgan Chase & Co. dropped 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 on the stock 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 note on Saturday, June 6th. Wells Fargo & Company boosted their price objective 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 research note on Friday, May 8th. Finally, UBS Group dropped their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 15th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of NASDAQ FWONK opened at $88.93 on Friday. The firm has a market capitalization of $19.93 billion, a P/E ratio of 40.79 and a beta of 0.47. Liberty Media Corporation - Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The company's fifty day moving average is $89.16 and its two-hundred day moving average is $89.59.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analysts' expectations of $683.42 million. On average, sell-side analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the sale, the director directly owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.31% of the company's stock.

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.

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