Hsbc Holdings PLC Has $43.77 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 39.7% in the fourth quarter, selling 292,698 shares and leaving it with 444,389 shares valued at about $43.77 million.
• Liberty Media Formula One Series C reported better-than-expected quarterly results, posting EPS of $0.03 versus an expected loss and revenue of $711.0 million, above analyst estimates.
• Analyst sentiment remains mixed but constructive, with the stock carrying a Moderate Buy consensus and an average price target of $111.75, even as some targets were trimmed and insiders recently sold shares.

Hsbc Holdings PLC cut its stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 39.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 444,389 shares of the company's stock after selling 292,698 shares during the period. Hsbc Holdings PLC owned 0.20% of Liberty Media Corporation - Liberty Formula One Series C worth $43,775,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FWONK. Zions Bancorporation National Association UT boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after buying an additional 188 shares during the last quarter. Advisory Services Network LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth $34,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in 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 worth $42,000 after acquiring an additional 175 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $89.19 on Wednesday. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 40.91 and a beta of 0.47. The company has a 50-day simple moving average of $89.48 and a 200 day simple moving average of $89.35. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36.

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

Analyst Ratings Changes

A number of research analysts have recently commented on FWONK shares. 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 report on Saturday, June 6th. 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 for the company in a research note on Friday, May 29th. UBS Group reduced 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 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 research report on Friday, May 8th. Finally, 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. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.75.

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

In other news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Wednesday, May 27th. The stock was 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 owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction 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. This trade represents a 42.66% decrease in their ownership of the stock. 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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