Gamco Investors INC. ET AL Sells 304,096 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Gamco Investors sharply reduced its FWONK position by selling 304,096 shares, an 82.5% cut, leaving it with 64,565 shares valued at approximately $5.49 million. Institutional investors collectively own 92.26% of the stock.
• Liberty Media’s Formula One tracking stock reported quarterly EPS of $0.03, beating estimates by $0.09, while revenue of $711 million exceeded expectations of $683.42 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $110.20; Bank of America and JPMorgan recently raised their targets to $115 and $124, respectively.

Gamco Investors INC. ET AL cut its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 82.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,565 shares of the company's stock after selling 304,096 shares during the quarter. Gamco Investors INC. ET AL's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $5,489,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Zions Bancorporation National Association UT boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the fourth 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 stake in Liberty Media Corporation - Liberty Formula One Series C in the third quarter worth about $34,000. Headlands Technologies LLC bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $38,000. Osterweis Capital Management Inc. bought a new position in shares of 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 holdings 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 purchasing an additional 175 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,597 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Chase Carey sold 100,000 shares of the company'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 transaction, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of NASDAQ FWONK opened at $97.05 on Monday. The firm's 50 day moving average price is $92.96 and its 200-day moving average price is $89.56. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The company has a market cap 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 announced 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 firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. On average, analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Bank of America boosted 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. UBS Group cut their target price 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 note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $111.00 to $124.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $110.20.

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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