Liberty Media Corporation - Liberty Formula One Series C $FWONK Shares Sold by Darsana Capital Partners LP

Key Points

• Darsana Capital Partners cut its FWONK stake by 16.5%, selling 850,000 shares and retaining 4.3 million shares valued at approximately $409.1 million. Institutional investors collectively own 92.26% of the stock.
• FWONK was trading at $96.80, with a market capitalization of $21.72 billion, after the company reported quarterly EPS of $0.02—below the $0.24 analyst consensus—and revenue of $934 million versus estimates of $952.78 million.
• Analyst sentiment remains generally positive, with an average rating of “Moderate Buy” and a consensus price target of $117.57, despite ratings ranging from “Strong Sell” to “Buy.”

Darsana Capital Partners LP lowered its position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 16.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,300,000 shares of the company's stock after selling 850,000 shares during the quarter. Liberty Media Corporation - Liberty Formula One Series C comprises 1.8% of Darsana Capital Partners LP's portfolio, making the stock its 7th largest position. Darsana Capital Partners LP owned approximately 1.92% of Liberty Media Corporation - Liberty Formula One Series C worth $409,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FWONK. California State Teachers Retirement System grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 9,400.5% in the 2nd quarter. California State Teachers Retirement System now owns 34,777,666 shares of the company's stock worth $3,308,747,000 after acquiring an additional 34,411,605 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.9% during the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company's stock valued at $925,299,000 after acquiring an additional 302,191 shares in the last quarter. 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. The Manufacturers Life Insurance Company lifted its stake in Liberty Media Corporation - Liberty Formula One Series C by 26.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company's stock worth $396,626,000 after purchasing an additional 981,047 shares during the last quarter. Finally, Bank of America Corp DE lifted 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 worth $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.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 1.9%

FWONK stock opened at $96.80 on Thursday. Liberty Media Corporation - Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The firm has a 50-day moving average of $99.85 and a two-hundred day moving average of $92.41. The firm has a market capitalization of $21.72 billion, a PE ratio of 142.35 and a beta of 0.43.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $952.78 million. On average, equities research analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FWONK shares. Wall Street Zen lowered shares of 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. Guggenheim raised their price target on shares of 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. UBS Group lifted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Bank of America boosted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Finally, Sanford C. Bernstein raised their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $117.57.

Insiders Place Their Bets

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction on 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 transaction, the insider directly owned 15,590 shares of the company's stock, valued at $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.31% of the stock is currently owned by insiders.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

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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