Generate Investment Management Ltd Acquires 48,046 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Generate Investment Management Ltd. acquired 48,046 FWONK shares in the third quarter, valued at approximately $4.44 million. Institutional investors collectively own 92.26% of the stock.
• Analyst sentiment remains positive overall, with five Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $116.29.
• FWONK recently traded at $92.61, down 0.4%, while Liberty Media’s latest quarterly results missed expectations: earnings were $0.02 per share versus a $0.24 estimate, and revenue was $934 million versus $952.78 million expected.

Generate Investment Management Ltd bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,046 shares of the company's stock, valued at approximately $4,439,000.

Several other hedge funds have also bought and sold shares of FWONK. Janus Henderson Group PLC increased its position in Liberty Media Corporation - Liberty Formula One Series C by 2.9% in the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company's stock worth $925,299,000 after buying an additional 302,191 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company's stock valued at $505,297,000 after buying an additional 645,996 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 17.8% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company's stock valued at $447,471,000 after buying an additional 688,000 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 43.2% during the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company's stock valued at $387,845,000 after buying an additional 1,376,984 shares in the last quarter. Finally, Berkshire Hathaway Inc bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter valued at approximately $297,358,000. Institutional investors own 92.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FWONK. Wall Street Zen lowered shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "strong sell" rating in a report on Sunday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Wednesday, July 29th. 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 company a "buy" rating in a report on Monday, July 6th. Jefferies Financial Group started coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, September 9th. They issued a "buy" rating and a $115.00 price target for the company. Finally, Guggenheim increased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.29.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 0.4%

NASDAQ:FWONK traded down $0.41 on Wednesday, reaching $92.61. 779,719 shares of the company's stock traded hands, compared to its average volume of 2,091,044. The stock has a 50-day simple moving average of $97.80 and a 200-day simple moving average of $93.82. 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 cap of $20.78 billion, a PE ratio of 136.21 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 firm had revenue of $934.00 million during the quarter, compared to analysts' expectations of $952.78 million. On average, equities analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 earnings per share for the current year.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Liberty Media Corporation's Liberty Formula One Series C represents a non-voting tracking stock associated with the company's Formula One Group. The group's principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship's commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.

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