Clough Capital Partners L P Cuts Stake in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Clough Capital Partners cut its stake in Liberty Media Formula One Series C by 49.9% in the fourth quarter, leaving it with 36,174 shares worth about $3.56 million.
• Insider selling continued, with Director Chase Carey and insider Renee L. Wilm both reducing their holdings through recent stock sales.
• FWONK beat its latest quarterly expectations, reporting $0.03 EPS versus an expected loss and revenue of $711 million, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $111.75.

Clough Capital Partners L P reduced its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 49.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,174 shares of the company's stock after selling 36,030 shares during the quarter. Clough Capital Partners L P's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $3,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. grew its holdings in 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 worth $466,000 after purchasing an additional 118 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 2.3% in the third quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company's stock worth $552,000 after purchasing an additional 119 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in 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 worth $56,000 after purchasing an additional 120 shares during the last quarter. Compound Planning Inc. grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 6.1% in the third quarter. Compound Planning Inc. now owns 2,094 shares of the company's stock worth $219,000 after purchasing an additional 121 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 2.7% in the fourth quarter. Blair William & Co. IL now owns 5,175 shares of the company's stock worth $510,000 after purchasing an additional 135 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Chase Carey sold 100,000 shares of the company's 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 completion of the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following 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 position. The disclosure for this sale is available in the SEC filing. 4.31% of the stock is owned by corporate insiders.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.8%

FWONK stock opened at $90.35 on Thursday. The company's 50-day simple moving average is $89.32 and its 200-day simple moving average is $89.46. 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 firm has a market cap of $20.25 billion, a P/E ratio of 41.45 and a beta of 0.47.

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, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analysts' expectations of $683.42 million. On average, analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FWONK. Wells Fargo & Company lifted their price target 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. 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. 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 report on Friday, May 29th. 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 report on Wednesday, April 15th. Finally, 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 report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $111.75.

Liberty Media Corporation - Liberty Formula One Series C 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.

Want to see what other hedge funds are holding FWONK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.