Lecap Asset Management Ltd. Acquires New Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Lecap Asset Management Ltd. acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter, purchasing 3,089 shares valued at approximately $323,000.
• Liberty Media Corporation reported earnings of $1.52 per share for the last quarter, significantly exceeding analysts' expectations of $0.81.
• Institutions currently hold 92.26% of Liberty Media's stock, indicating strong institutional interest in this investment.

Lecap Asset Management Ltd. bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,089 shares of the company's stock, valued at approximately $323,000.

A number of other large investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $29,000. GW&K Investment Management LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the first quarter worth $25,000. Western Pacific Wealth Management LP increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 71.4% in the second quarter. Western Pacific Wealth Management LP now owns 1,200 shares of the company's stock valued at $125,000 after purchasing an additional 500 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth about $222,000. Finally, GAMMA Investing LLC boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 10.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,170 shares of the company's stock valued at $227,000 after purchasing an additional 213 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

FWONK stock opened at $104.83 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $74.34 and a 52 week high of $106.51. The firm's fifty day moving average is $101.03 and its 200 day moving average is $96.60. The firm has a market cap of $23.44 billion, a P/E ratio of 102.78 and a beta of 0.47.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current year.

Insiders Place Their Bets

In related news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the completion of the sale, the director directly owned 1,781 shares in the company, valued at $178,456.20. This represents a 33.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 5,651 shares of company stock worth $572,250. Corporate insiders own 4.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FWONK shares. Guggenheim boosted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company reduced their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating for the company in a research note on Friday, August 8th. UBS Group raised their target price on Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $120.00 target price on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. Finally, Zacks Research lowered shares of Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and an average target price of $111.22.

About Liberty Media Corporation - Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.

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