Liberty Media Corporation - Liberty Formula One Series C $FWONK Stake Boosted by Troluce Capital Advisors LLC

Key Points

• Troluce Capital Advisors increased its FWONK stake by 326.7% in the first quarter, purchasing 490,000 additional shares to hold 640,000 shares valued at approximately $54.4 million. Institutional investors collectively own 92.26% of the stock.
• Liberty Media’s Formula One tracking stock beat quarterly expectations, reporting earnings of $0.03 per share versus the consensus estimate of a $0.06 loss, while revenue reached $711 million compared with expectations of $683.4 million.
• Analyst sentiment remains mixed, with three Buy ratings and four Holds producing a consensus “Hold” rating and an average price target of $110.20. Meanwhile, two company insiders sold shares worth roughly $10.1 million combined.

Troluce Capital Advisors LLC raised its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 326.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 640,000 shares of the company's stock after purchasing an additional 490,000 shares during the quarter. Liberty Media Corporation - Liberty Formula One Series C accounts for 3.3% of Troluce Capital Advisors LLC's portfolio, making the stock its 4th biggest position. Troluce Capital Advisors LLC owned 0.29% of Liberty Media Corporation - Liberty Formula One Series C worth $54,413,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Securities Inc. increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company's stock worth $466,000 after buying an additional 118 shares during the period. Farther Finance Advisors LLC raised its holdings in Liberty Media Corporation - Liberty Formula One Series C by 26.6% during the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company's stock valued at $56,000 after buying an additional 120 shares during the last quarter. Blair William & Co. IL boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 2.7% during the 4th quarter. Blair William & Co. IL now owns 5,175 shares of the company's stock valued at $510,000 after buying an additional 135 shares during the period. Clearstead Advisors LLC boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 1.4% during the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company's stock valued at $1,016,000 after buying an additional 141 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 0.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company's stock worth $3,234,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company's stock.

Insider Buying and Selling

In related news, Director Chase Carey sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the sale, the director owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was 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 in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

NASDAQ:FWONK opened at $97.05 on Monday. 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 company's 50-day simple moving average is $92.96 and its 200 day simple moving average is $89.56. The firm has a market capitalization of $21.75 billion, a P/E ratio of 44.52 and a beta of 0.44.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FWONK. 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. Bank of America increased their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Wells Fargo & Company boosted their price target on Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Finally, JPMorgan Chase & Co. upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $111.00 to $124.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C has a consensus rating of "Hold" and an average target price of $110.20.

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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