Cookson Peirce & Co. Inc. Decreases Stock Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Cookson Peirce & Co. Inc. cut its stake in Liberty Media Formula One Series C by 27.8% in the fourth quarter, selling 15,119 shares and leaving it with 39,283 shares worth about $3.87 million.
• Other institutional activity was mixed, but hedge funds and institutions still own 92.26% of FWONK shares, showing the stock remains heavily held by professional investors.
• Liberty Media Formula One Series C reported a better-than-expected quarter with EPS of $0.03 versus an expected loss, and revenue of $711 million topping estimates; analysts currently have a consensus rating of Moderate Buy with an average price target of $111.75.

Cookson Peirce & Co. Inc. lowered its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,283 shares of the company's stock after selling 15,119 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $3,870,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FWONK. Banco Santander S.A. purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at about $1,685,000. JPMorgan Chase & Co. raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company's stock valued at $37,375,000 after buying an additional 89,673 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company's stock valued at $2,132,636,000 after buying an additional 117,804 shares in the last quarter. ShawSpring Partners LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at about $22,720,000. Finally, Tredje AP fonden raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 56.4% during the 3rd quarter. Tredje AP fonden now owns 32,580 shares of the company's stock valued at $3,403,000 after buying an additional 11,750 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $87.68 on Friday. The company has a market capitalization of $19.65 billion, a P/E ratio of 40.22 and a beta of 0.47. The company's 50-day simple moving average is $88.67 and its two-hundred day simple moving average is $89.84. Liberty Media Corporation - Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. On average, research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on FWONK shares. Wells Fargo & Company upped their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their target price 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 research report on Friday, May 29th. UBS Group decreased their target price 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 research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $111.75.

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series C 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 value of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, 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 is available at this hyperlink. 4.31% of the stock is owned by corporate insiders.

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.

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