Hsbc Holdings PLC Has $31.82 Million Stock Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• HSBC Holdings PLC reduced its stake in Liberty Media Formula One Series C by 15.9% in the first quarter, but still held 373,865 shares worth about $31.8 million.
• Institutional ownership remains high, with 92.26% of FWONK shares held by institutions and hedge funds, while several other investors also recently increased or initiated positions.
• Analysts are mostly positive: the stock has a consensus rating of “Moderate Buy” with an average price target of $111.14, and the company recently beat quarterly earnings and revenue estimates.

Hsbc Holdings PLC lessened its stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 15.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 373,865 shares of the company's stock after selling 70,524 shares during the quarter. Hsbc Holdings PLC owned approximately 0.17% of Liberty Media Corporation - Liberty Formula One Series C worth $31,815,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FWONK. Zions Bancorporation National Association UT boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after acquiring an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the 3rd quarter worth about $34,000. Headlands Technologies LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the 2nd 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 valued at about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake 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 in the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on 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. JPMorgan Chase & Co. cut their target price on shares of 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. UBS Group reduced their target price on shares of 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. Bank of America upped 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 research report on Monday, July 6th. Finally, Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.14.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Liberty Media Corporation - Liberty Formula One Series C stock opened at $99.20 on Tuesday. The stock's 50 day moving average is $92.46 and its 200 day moving average is $89.59. The firm has a market cap of $22.23 billion, a P/E ratio of 45.50 and a beta of 0.44. Liberty Media Corporation - Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share 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 analyst estimates of $683.42 million. Equities analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Chase Carey sold 100,000 shares of the stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 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 of the company's stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

About Liberty Media Corporation - Liberty Formula One Series C

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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