Liberty Media Corporation - Liberty Formula One Series C $FWONK Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its FWONK stake by 9,400.5% in the second quarter, acquiring 34.4 million additional shares and reaching approximately 15.5% ownership. Institutional investors collectively hold 92.26% of the stock.
• FWONK shares opened at $95.44, down 1.4%, with a market capitalization of $21.41 billion. The company recently reported quarterly EPS of $0.02, missing the $0.24 consensus estimate, while revenue of $934 million also fell short of expectations.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $117.57.

California State Teachers Retirement System boosted its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 9,400.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,777,666 shares of the company's stock after buying an additional 34,411,605 shares during the period. California State Teachers Retirement System owned approximately 15.50% of Liberty Media Corporation - Liberty Formula One Series C worth $3,308,747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of FWONK. Zions Bancorporation National Association UT lifted its stake in 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 during the period. Allied Private Wealth LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at $32,000. Advisory Services Network LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the third quarter worth $34,000. Headlands Technologies LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth $38,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth $39,000. Institutional investors and hedge funds own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 1.4%

Shares of FWONK opened at $95.44 on Friday. The firm has a market cap of $21.41 billion, a P/E ratio of 140.35 and a beta of 0.43. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The stock's 50 day moving average is $99.78 and its two-hundred day moving average is $92.44.

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

Analysts Set New Price Targets

FWONK has been the subject of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. UBS Group increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Guggenheim lifted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Jefferies Financial Group started coverage on Liberty Media Corporation - Liberty Formula One Series C in a report on Wednesday. They issued a "buy" rating and a $115.00 price objective for the company. Finally, 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 stock an "outperform" rating in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.57.

Insider Buying and Selling

In related news, insider Renee L. Wilm sold 11,597 shares of the business's stock in a transaction on 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 completion of the sale, the insider owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.31% of the company's stock.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Group, represented by the Series C Liberty Formula One common stock NASDAQ: FWONK, is a tracking-stock group tied primarily to the company's interests in Formula 1. The group's principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.

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