Franklin Resources Inc. Has $114.19 Million Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Franklin Resources significantly increased its stake in Liberty Media Formula One Series C, boosting holdings by 265.1% in the fourth quarter to 1.16 million shares valued at about $114.2 million.
• Institutional ownership remains very high, with 92.26% of FWONK shares held by institutions and hedge funds, while insider ownership stands at 4.31%.
• The stock has mixed analyst sentiment but a broadly positive tone overall: the consensus rating is Moderate Buy with an average price target of $111.75, while the shares recently traded around $88.61 and the company beat quarterly earnings and revenue expectations.

Franklin Resources Inc. raised its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 265.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,159,292 shares of the company's stock after buying an additional 841,729 shares during the quarter. Franklin Resources Inc. owned about 0.46% of Liberty Media Corporation - Liberty Formula One Series C worth $114,192,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth approximately $34,000. Headlands Technologies LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth approximately $38,000. Osterweis Capital Management Inc. acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth approximately $39,000. FNY Investment Advisers LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth approximately $48,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 36.0% during the third quarter. Aster Capital Management DIFC Ltd now owns 548 shares of the company's stock worth $57,000 after buying an additional 145 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the sale, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.31% of the company's stock.

Analyst Upgrades and Downgrades

FWONK has been the subject of a number of research analyst reports. UBS Group cut their price target on 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. Wells Fargo & Company boosted their price objective on 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. lowered their price objective on 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. Weiss Ratings upgraded 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. Finally, 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. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 0.7%

FWONK opened at $88.61 on Thursday. The stock has a market cap of $19.86 billion, a PE ratio of 40.65 and a beta of 0.47. Liberty Media Corporation - Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The stock's 50 day simple moving average is $88.98 and its 200-day simple moving average is $89.62.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. Equities analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

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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