California Public Employees Retirement System trimmed its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,375 shares of the company's stock after selling 10,414 shares during the quarter. California Public Employees Retirement System owned 0.16% of Liberty Media Corporation - Liberty Formula One Series C worth $30,639,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company's stock valued at $466,000 after acquiring an additional 118 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 26.6% in the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company's stock valued at $56,000 after acquiring an additional 120 shares in the last quarter. Blair William & Co. IL increased its position in Liberty Media Corporation - Liberty Formula One Series C by 2.7% during the fourth quarter. Blair William & Co. IL now owns 5,175 shares of the company's stock worth $510,000 after acquiring an additional 135 shares during the period. Clearstead Advisors LLC increased its position in Liberty Media Corporation - Liberty Formula One Series C by 1.4% during the fourth quarter. Clearstead Advisors LLC now owns 10,312 shares of the company's stock worth $1,016,000 after acquiring an additional 141 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Liberty Media Corporation - Liberty Formula One Series C by 0.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company's stock worth $3,234,000 after acquiring an additional 149 shares during the period. Institutional investors own 92.26% of the company's stock.
Liberty Media Corporation - Liberty Formula One Series C Stock Performance
Shares of NASDAQ FWONK opened at $97.92 on Wednesday. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The stock has a market capitalization of $21.94 billion, a P/E ratio of 44.92 and a beta of 0.44. The stock's fifty day moving average is $92.60 and its 200 day moving average is $89.59.
Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 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. Equities research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.
Insider Activity
In other news, insider Renee L. Wilm sold 11,597 shares of the business's stock in a transaction that occurred 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. The trade was a 42.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director owned 94,356 shares of the company's stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.
Analyst Ratings Changes
A number of analysts have issued reports on FWONK shares. Wall Street Zen raised 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. JPMorgan Chase & Co. increased their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wells Fargo & Company raised their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Finally, Bank of America boosted their price target on 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, July 6th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $110.20.
Get Our Latest Stock Analysis on FWONK
About Liberty Media Corporation - Liberty Formula One Series C
(
Free Report)
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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