Evergreen Capital Management LLC Sells 12,293 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Evergreen Capital Management cut its FWONK stake by 64.8% in the third quarter, selling 12,293 shares and retaining 6,684 shares valued at approximately $618,000.
• Institutional investors own 92.26% of FWONK, with several firms recently initiating or increasing positions.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $115.50, while the stock recently traded near $92.61. The company’s latest quarterly results missed expectations, reporting $0.02 in adjusted earnings per share versus the $0.24 consensus estimate.

Evergreen Capital Management LLC lessened its stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 64.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,684 shares of the company's stock after selling 12,293 shares during the period. Evergreen Capital Management LLC's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $618,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FWONK. Sterling Capital Management LLC acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C in the third quarter worth $579,000. Yousif Capital Management LLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 4.2% in the third quarter. Yousif Capital Management LLC now owns 3,034 shares of the company's stock valued at $280,000 after purchasing an additional 123 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at $1,041,000. NBT Bank N.A. acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter valued at about $403,000. Finally, Root Financial Partners LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter valued at about $74,000. Institutional investors and hedge funds own 92.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FWONK. Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Wells Fargo & Company decreased their target price on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $96.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 29th. Susquehanna dropped their price target on Liberty Media Corporation - Liberty Formula One Series C from $114.00 to $110.00 and set a "positive" rating on the stock in a research note on Friday, October 16th. JPMorgan Chase & Co. upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, 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 stock an "outperform" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $115.50.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 1.9%

Shares of FWONK stock opened at $92.61 on Friday. The firm has a fifty day simple moving average of $95.17 and a two-hundred day simple moving average of $91.91. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $107.31. The firm has a market capitalization of $20.78 billion, a PE ratio of 136.19 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The business had revenue of $934.00 million for the quarter, compared to analysts' expectations of $952.78 million. On average, equities analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 earnings per share for the current fiscal year.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Series C tracking stock represents an economic interest in the company's Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport's international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.

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