Goldman Sachs Group Inc. Has $48.12 Million Stake in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Liberty Media Corporation - Liberty Formula One Series C by 13.2%, selling 80,958 shares and bringing its total ownership to 534,598 shares valued at approximately $48.1 million.
• Liberty Media Corporation - Liberty Formula One Series C reported earnings of $1.52 EPS for the last quarter, significantly surpassing analysts' expectations of $0.81.
• Brokerages are mixed on FWONK, with Zacks Research downgrading the stock to a "hold," while UBS Group and others have raised their price targets, indicating an average consensus rating of "Moderate Buy."

Goldman Sachs Group Inc. lowered its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 13.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 534,598 shares of the company's stock after selling 80,958 shares during the quarter. Goldman Sachs Group Inc. owned about 0.21% of Liberty Media Corporation - Liberty Formula One Series C worth $48,119,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FWONK. Russell Investments Group Ltd. raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 22.7% in the 1st quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company's stock valued at $11,570,000 after purchasing an additional 23,809 shares during the period. Strs Ohio acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the first quarter worth approximately $2,370,000. Public Employees Retirement System of Ohio increased its position in Liberty Media Corporation - Liberty Formula One Series C by 1.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock worth $37,529,000 after buying an additional 4,897 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the first quarter worth approximately $999,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after acquiring an additional 6,297 shares during the period. Institutional investors and hedge funds own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 1.0%

NASDAQ FWONK traded down $1.00 on Friday, hitting $102.69. 162,717 shares of the company's stock were exchanged, compared to its average volume of 1,151,701. The stock has a 50-day moving average of $100.80 and a 200-day moving average of $95.37. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $74.34 and a 52 week high of $106.26. The stock has a market cap of $22.96 billion, a price-to-earnings ratio of 100.63 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $1.28 billion. As a group, analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current year.

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

In other news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 5,651 shares of company stock valued at $572,250. 4.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FWONK has been the subject of a number of research analyst reports. UBS Group boosted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. The Goldman Sachs Group restated a "buy" rating and set a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Tuesday, July 22nd. Susquehanna boosted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $121.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. boosted their price target on Liberty Media Corporation - Liberty Formula One Series C from $108.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Rosenblatt Securities boosted their price target on Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Profile

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.