Liberty Media Corporation - Liberty Formula One Series C $FWONK Stock Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its FWONK stake by 58.7% in the third quarter, adding 819,363 shares to hold 2.22 million shares valued at about $202.9 million. Institutional investors collectively own 92.26% of the stock.
• Liberty Media reported quarterly EPS of $0.02, below the $0.24 analyst consensus, and revenue of $934 million, also short of estimates.
• Analysts’ consensus rating was “Moderate Buy,” with a $117.62 average price target; shares were cited at $106.33.

Allspring Global Investments Holdings LLC increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 58.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,215,272 shares of the company's stock after acquiring an additional 819,363 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.99% of Liberty Media Corporation - Liberty Formula One Series C worth $202,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC raised its stake in 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 purchasing an additional 302,191 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 13.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company's stock valued at $505,297,000 after purchasing an additional 645,996 shares during the period. Bank of America Corp DE grew its position in Liberty Media Corporation - Liberty Formula One Series C by 43.2% in the 1st 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. Junto Capital Management LP grew its position in Liberty Media Corporation - Liberty Formula One Series C by 178.1% in the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company's stock worth $162,431,000 after purchasing an additional 1,093,372 shares during the last quarter. Finally, Hawk Ridge Capital Management LP grew its position in Liberty Media Corporation - Liberty Formula One Series C by 38.9% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,849,660 shares of the company's stock worth $157,258,000 after purchasing an additional 518,300 shares during the last quarter. Institutional investors own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of FWONK opened at $106.33 on Monday. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 122.22 and a beta of 0.46. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $108.35. The company has a 50-day moving average price of $94.54 and a two-hundred day moving average price of $92.18.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. Equities research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed 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 target price 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 research note on Friday, August 7th. Wells Fargo & Company lifted their target price on Liberty Media Corporation - Liberty Formula One Series C from $96.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Friday. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "strong sell" rating to a "sell" rating in a research note on Saturday. Finally, Sanford C. Bernstein boosted their price target on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. Six 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.62.

Key Headlines Impacting Liberty Media Corporation - Liberty Formula One Series C

Here are the key news stories impacting Liberty Media Corporation - Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Liberty Media Corporation's Liberty Formula One Series C stock NASDAQ: FWONK is a tracking stock associated with the company's Formula One Group. The group's principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship's commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.

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