Edgestream Partners L.P. Sells 36,125 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Edgestream Partners cut its FWONK stake by 72.9%, selling 36,125 shares and retaining 13,452 shares worth approximately $1.14 million. Institutional investors collectively own 92.26% of the stock.
• Liberty Media’s Formula One Group exceeded quarterly expectations, reporting $0.03 in earnings per share versus analysts’ estimate of a $0.06 loss, while revenue reached $711 million compared with expectations of $683.42 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $114, above the reported opening price of $97.74; however, insiders Renee Wilm and Chase Carey recently sold substantial portions of their holdings.

Edgestream Partners L.P. reduced its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 72.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,452 shares of the company's stock after selling 36,125 shares during the period. Edgestream Partners L.P.'s holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $1,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FWONK. Zions Bancorporation National Association UT lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the 4th 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 last quarter. Advisory Services Network LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth approximately $34,000. Headlands Technologies LLC purchased 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. purchased 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 lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 70.0% in the 4th 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 during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 0.4%

Shares of Liberty Media Corporation - Liberty Formula One Series C stock opened at $97.74 on Tuesday. The stock's fifty day moving average is $94.15 and its two-hundred day moving average is $89.88. The company has a market capitalization of $21.90 billion, a PE ratio of 44.84 and a beta of 0.43. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share 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 analysts' expectations of $683.42 million. As a group, research analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.93 earnings per share for the current year.

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

In related news, 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 value of $1,044,773.73. Following the transaction, the insider owned 15,590 shares of the company's stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was 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 directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FWONK. Bank of America lifted their target price on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Sanford C. Bernstein increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Guggenheim lifted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C has an average rating of "Moderate Buy" and an average target price of $114.00.

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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