Fifth Third Bancorp Raises Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Fifth Third Bancorp sharply increased its stake in Liberty Media Formula One Series C, boosting holdings by 2,037.8% in the first quarter to 13,917 shares worth about $1.18 million.
• FWONK has been drawing mixed institutional and insider activity. Hedge funds own 92.26% of the stock, while insiders recently sold shares, including a 42.66% reduction by Renee L. Wilm and a 51.45% reduction by Chase Carey.
• The stock traded higher and the company beat earnings expectations. Shares were up 0.6% to $97.05, and the latest quarterly results showed $0.03 EPS versus an expected loss, on revenue of $711 million.

Fifth Third Bancorp increased its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 2,037.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,917 shares of the company's stock after buying an additional 13,266 shares during the period. Fifth Third Bancorp's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $1,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT raised its position 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 worth $29,000 after acquiring an additional 188 shares in the last quarter. Advisory Services Network LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at about $34,000. Headlands Technologies LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth about $38,000. Osterweis Capital Management Inc. bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock valued at $42,000 after buying an additional 175 shares during 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 Trading Up 0.6%

Shares of NASDAQ:FWONK opened at $97.05 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36. The business has a 50 day moving average of $92.96 and a two-hundred day moving average of $89.62. The company has a market capitalization of $21.75 billion, a PE ratio of 44.52 and a beta of 0.44.

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 for the quarter, beating 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. Equities research analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FWONK. Wall Street Zen upgraded 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. 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 research report on Friday, May 1st. Wells Fargo & Company raised 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 note on Friday, May 8th. Bank of America lifted their price target on shares of 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. Finally, UBS Group reduced their price target on 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. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.20.

Insider Activity

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the sale, the insider owned 15,590 shares of the company's stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the company's stock in a transaction on 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 sale, the director directly owned 94,356 shares of the company's stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.31% of the stock is owned by corporate insiders.

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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