Annex Advisory Services LLC Grows Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Annex Advisory Services increased its FWONK position by 28.8% in the second quarter, adding 126,809 shares to own 566,357 shares valued at approximately $53.9 million. Institutional investors collectively own 92.26% of the stock.
• FWONK recently traded at $102.38, near its 52-week high of $109.36, but the company reported quarterly EPS of $0.02—below the $0.24 analyst consensus—and revenue of $934 million, also below expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $116.50, although company insiders recently sold shares, including director Chase Carey’s $9.0 million transaction.

Annex Advisory Services LLC increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 28.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 566,357 shares of the company's stock after purchasing an additional 126,809 shares during the quarter. Annex Advisory Services LLC owned 0.25% of Liberty Media Corporation - Liberty Formula One Series C worth $53,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 51.0% during the second quarter. Invesco Ltd. now owns 504,313 shares of the company's stock worth $52,701,000 after buying an additional 170,435 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at approximately $502,000. Daiwa Securities Group Inc. raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 20.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company's stock valued at $3,902,000 after acquiring an additional 6,285 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth approximately $1,863,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth approximately $1,255,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $102.38 on Wednesday. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36. The company has a 50 day moving average price of $95.28 and a 200 day moving average price of $90.32. The stock has a market capitalization of $22.97 billion, a P/E ratio of 150.56 and a beta of 0.43.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $952.78 million. On average, research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 2.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on FWONK. JPMorgan Chase & Co. lifted their target price 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 report on Friday, August 7th. Bank of America upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Wells Fargo & Company lifted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Finally, Guggenheim boosted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C currently has a consensus rating of "Moderate Buy" and an average price target of $116.50.

Insiders Place Their Bets

In related news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value 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. This trade represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C 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 owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

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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