Eurizon Capital SGR S.p.A. Acquires Shares of 26,367 Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in Liberty Media Formula One Series C, buying 26,367 shares valued at about $2.6 million.
• The stock was down 1.9% and traded at $89.32, with a market cap of $20.02 billion; it has ranged from $80.15 to $109.36 over the past year.
• Liberty Media Formula One Series C recently beat earnings expectations, reporting $0.03 EPS on $711 million in revenue, while analysts currently have a Moderate Buy consensus with a $111.22 average price target.

Eurizon Capital SGR S.p.A. acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,367 shares of the company's stock, valued at approximately $2,597,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FWONK. Invesco Ltd. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company's stock valued at $52,701,000 after acquiring an additional 170,435 shares during the last quarter. Cresset Asset Management LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at approximately $502,000. Daiwa Securities Group Inc. grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 20.2% during the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company's stock valued at $3,902,000 after purchasing an additional 6,285 shares during the period. Qube Research & Technologies Ltd acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $1,863,000. Finally, Squarepoint Ops LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $1,255,000. 92.26% of the stock is owned by institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 1.9%

Liberty Media Corporation - Liberty Formula One Series C stock opened at $89.32 on Wednesday. The stock has a market capitalization of $20.02 billion, a PE ratio of 40.97 and a beta of 0.47. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The company has a 50 day moving average of $88.29 and a 200-day moving average of $90.13.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FWONK. Wells Fargo & Company boosted their price objective 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 report on Friday, May 8th. Wall Street Zen cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. JPMorgan Chase & Co. reduced their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $111.00 and set an "overweight" rating for the company in a report on Friday, May 29th. 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 report on Friday, May 1st. Finally, UBS Group reduced their price target on shares of 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. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $111.22.

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

In other news, Director Chase Carey sold 100,000 shares of the business's stock in a transaction on 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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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