Berkshire Hathaway Inc Buys New Shares in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Berkshire Hathaway disclosed a new fourth-quarter stake in Liberty Media Formula One Series C (FWONK), buying 3,018,555 shares worth about $297.4 million.
• Institutional ownership in FWONK remains very high at 92.26%, with other big investors like Norges Bank and Franklin Resources also adding positions or increasing their holdings.
• Analysts are mixed but broadly constructive: the stock has a Moderate Buy consensus and a target price of $111.75, while recent insider sales by Renee L. Wilm and Chase Carey reduced their holdings significantly.

Berkshire Hathaway Inc purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,018,555 shares of the company's stock, valued at approximately $297,358,000. Berkshire Hathaway Inc owned about 1.21% of Liberty Media Corporation - Liberty Formula One Series C at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FWONK. Silver Point Capital L.P. acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth about $302,000. Norges Bank acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth about $195,762,000. Franklin Resources Inc. increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company's stock worth $114,192,000 after acquiring an additional 841,729 shares during the last quarter. TOMS Capital Investment Management LP acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth about $75,360,000. Finally, Hawk Ridge Capital Management LP increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 119.9% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,331,360 shares of the company's stock worth $131,152,000 after acquiring an additional 725,860 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on 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. UBS Group dropped their price target on 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 note on Wednesday, April 15th. Wall Street Zen upgraded 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 upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.75.

Insider Transactions at Liberty Media Corporation - Liberty Formula One Series C

In related news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction dated Monday, June 15th. The stock was 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 represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the director directly owned 94,356 shares of the company's stock, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.31% of the stock is currently owned by company insiders.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

FWONK stock opened at $90.35 on Thursday. Liberty Media Corporation - Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The firm has a market cap of $20.25 billion, a P/E ratio of 41.45 and a beta of 0.47. The stock has a 50-day simple moving average of $89.32 and a 200-day simple moving average of $89.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. On average, equities research analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 EPS for the current year.

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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