Liberty Media Corporation - Liberty Formula One Series C $FWONK Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC raised its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,269,193 shares of the company's stock after buying an additional 80,378 shares during the quarter. Fred Alger Management LLC owned about 0.51% of Liberty Media Corporation - Liberty Formula One Series C worth $125,028,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of 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 worth $114,192,000 after purchasing an additional 841,729 shares during the period. Banco Santander S.A. acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth $1,685,000. JPMorgan Chase & Co. grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company's stock worth $37,375,000 after purchasing an additional 89,673 shares during the period. Vanguard Group Inc. grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company's stock worth $2,132,636,000 after purchasing an additional 117,804 shares during the period. Finally, ShawSpring Partners LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth $22,720,000. 92.26% of the stock is owned by institutional investors and hedge funds.

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

In related news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the sale, the insider directly owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction dated 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 approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. 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. 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 research note on Friday, May 8th. JPMorgan Chase & Co. lowered 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 on the stock in a research note on Friday, May 29th. Weiss Ratings raised shares of 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 cut 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 research note on Wednesday, April 15th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 0.5%

Shares of NASDAQ FWONK opened at $89.63 on Wednesday. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 41.11 and a beta of 0.47. 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 company's 50-day moving average price is $89.24 and its 200 day moving average price is $89.50.

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 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. As a group, research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.

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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