Hsbc Holdings PLC Decreases Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Hsbc Holdings PLC cut its stake in Liberty Media Formula One Series C by 39.7% in the fourth quarter, leaving it with 444,389 shares valued at about $43.8 million.
• The stock has seen mixed institutional activity, with firms like Franklin Resources increasing their positions while others added new stakes; overall, institutional investors own 92.26% of FWONK.
• Liberty Media Formula One Series C recently beat quarterly expectations, reporting $0.03 EPS versus an expected loss and revenue of $711 million, while analysts currently rate the stock a Hold with a consensus target price of $110.43.

Hsbc Holdings PLC trimmed its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 39.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 444,389 shares of the company's stock after selling 292,698 shares during the period. Hsbc Holdings PLC owned about 0.20% of Liberty Media Corporation - Liberty Formula One Series C worth $43,775,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in FWONK. Franklin Resources Inc. grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 265.1% during the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company's stock valued at $114,192,000 after buying an additional 841,729 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company's stock worth $37,375,000 after buying an additional 89,673 shares in the last quarter. Berkshire Hathaway Inc purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the fourth quarter worth about $297,358,000. ShawSpring Partners LLC bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at approximately $22,720,000. Finally, Diversified Trust Co. bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the fourth quarter valued at approximately $2,469,000. Institutional investors own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $98.50 on Monday. The business has a 50-day moving average price of $90.26 and a two-hundred day moving average price of $89.44. 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 firm has a market cap of $22.07 billion, a P/E ratio of 45.18 and a beta of 0.44.

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

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

FWONK has been the topic of a number of analyst reports. Wall Street Zen raised 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. JPMorgan Chase & Co. reduced their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $111.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Wells Fargo & Company upped their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Weiss Ratings raised 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. Finally, UBS Group lowered 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 report on Wednesday, April 15th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $110.43.

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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