CI Investments Inc. Has $64.61 Million Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• CI Investments Inc. reduced its stake in Liberty Media Formula One Series C by 11.9% in the first quarter, though it still held 759,977 shares worth about $64.6 million at the end of the period.
• Insider selling was notable: Director Chase Carey sold 100,000 shares for about $9.0 million, and insider Renee L. Wilm sold 11,597 shares for about $1.0 million.
• FWONK posted solid earnings for the latest quarter, reporting EPS of $0.03 versus a consensus loss estimate and revenue of $711 million, while analysts currently rate the stock a “Hold” with an average price target of $110.20.

CI Investments Inc. cut its position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 11.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 759,977 shares of the company's stock after selling 102,284 shares during the period. CI Investments Inc. owned about 0.34% of Liberty Media Corporation - Liberty Formula One Series C worth $64,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after acquiring an additional 188 shares during the period. Advisory Services Network LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth about $34,000. Headlands Technologies LLC acquired a new stake 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 stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings 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 valued at $42,000 after purchasing an additional 175 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Liberty Media Corporation - Liberty Formula One Series C 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 transaction of $9,028,000.00. Following the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares of the company's stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The SEC filing for this sale provides additional information.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

FWONK stock opened at $97.92 on Wednesday. The business has a fifty day moving average price of $92.60 and a 200 day moving average price of $89.59. 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 stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 44.92 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 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. On average, equities analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group dropped their target price 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 report on Wednesday, April 15th. Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings upgraded 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. Bank of America increased their price objective 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. Finally, Wells Fargo & Company lifted their price objective 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 report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $110.20.

Liberty Media Corporation - Liberty Formula One Series C Company 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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