Liberty Media Corporation - Liberty Formula One Series C $FWONK Stake Boosted by Munro Partners

Key Points

• Munro Partners increased its stake in Liberty Media Formula One Series C by 4.7% in the fourth quarter, adding 64,025 shares to bring its total to 1,418,568 shares. The position is now Munro’s 8th largest holding and worth about $139.7 million.
• Analyst sentiment remains mixed but positive overall, with five Buy ratings and five Hold ratings on FWONK. The stock’s average analyst price target is $111.75, above its recent trading level.
• The company beat earnings expectations in its latest quarterly report, posting $0.03 EPS versus an expected loss and revenue of $711 million versus estimates of $683.42 million. Despite that, director Chase Carey recently sold 100,000 shares in a sizable insider transaction.

Munro Partners grew its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,418,568 shares of the company's stock after purchasing an additional 64,025 shares during the quarter. Liberty Media Corporation - Liberty Formula One Series C comprises approximately 3.6% of Munro Partners' investment portfolio, making the stock its 8th biggest holding. Munro Partners owned about 0.57% of Liberty Media Corporation - Liberty Formula One Series C worth $139,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FWONK. Zions Bancorporation National Association UT grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after buying an additional 188 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $38,000. Osterweis Capital Management Inc. purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock valued at $42,000 after buying an additional 175 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FWONK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective 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 report on Friday, May 29th. Wall Street Zen upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Weiss Ratings upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. UBS Group decreased their target price on shares of 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 report on Wednesday, April 15th. Finally, Wells Fargo & Company upped their price objective 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 report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 1.2%

FWONK stock opened at $90.04 on Tuesday. The stock has a market capitalization of $20.18 billion, a P/E ratio of 41.30 and a beta of 0.47. The firm has a 50-day simple moving average of $89.21 and a 200-day simple moving average of $89.54. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analysts' expectations of $683.42 million. On average, analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.

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

In other news, Director Chase Carey sold 100,000 shares of the business's 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 owned 94,356 shares of the company's stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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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