Liberty Media Corporation - Liberty Formula One Series C $FWONK Shares Acquired by Braun Stacey Associates Inc.

Key Points

• Braun Stacey Associates increased its FWONK position by 13.5% in the second quarter, adding 37,375 shares to own 313,855 shares valued at approximately $29.86 million.
• Institutional investors hold 92.26% of FWONK, with Berkshire Hathaway, Naya Capital, Norges Bank and Bank of America among major recent buyers.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $118 price target, although Liberty Media missed quarterly earnings and revenue estimates.

Braun Stacey Associates Inc. boosted its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 13.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 313,855 shares of the company's stock after buying an additional 37,375 shares during the quarter. Braun Stacey Associates Inc. owned approximately 0.14% of Liberty Media Corporation - Liberty Formula One Series C worth $29,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FWONK. Silver Point Capital L.P. acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter valued at approximately $302,000. Berkshire Hathaway Inc acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the fourth quarter worth $297,358,000. Naya Capital Management UK Ltd. acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the fourth quarter worth $208,238,000. Norges Bank bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter valued at $195,762,000. Finally, Bank of America Corp DE increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company's stock valued at $387,845,000 after purchasing an additional 1,376,984 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FWONK. JPMorgan Chase & Co. raised their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Wall Street Zen downgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 8th. Sanford C. Bernstein upped their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Guggenheim increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $97.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $118.00.

Insider Transactions at Liberty Media Corporation - Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.31% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 0.3%

Liberty Media Corporation - Liberty Formula One Series C stock opened at $101.80 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 149.71 and a beta of 0.43. The firm has a 50-day moving average price of $99.13 and a two-hundred day moving average price of $91.79.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $952.78 million. Research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2 earnings per share for the current year.

Liberty Media Corporation - Liberty Formula One Series C Company 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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