Liberty Media Corporation - Liberty Formula One Series C $FWONK Stock Holdings Lessened by M.D. Sass LLC

Key Points

• M.D. Sass LLC cut its stake in Liberty Media Formula One Series C by 97% in the fourth quarter, selling 330,047 shares and leaving it with 10,047 shares worth about $990,000.
• The stock has seen mixed analyst sentiment: JPMorgan and UBS trimmed price targets, while the consensus rating remains Moderate Buy with an average target price of $111.22.
• Liberty Media Formula One Series C reported better-than-expected quarterly results, posting $0.03 EPS versus an expected loss and revenue of $711 million versus estimates of $683.42 million; the stock was down 1.9% to $89.32 in recent trading.

M.D. Sass LLC lowered its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 97.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,047 shares of the company's stock after selling 330,047 shares during the period. M.D. Sass LLC's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $990,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Banco Santander S.A. purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth approximately $1,685,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth approximately $3,414,000. JPMorgan Chase & Co. grew its position in Liberty Media Corporation - Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company's stock worth $37,375,000 after purchasing an additional 89,673 shares in the last quarter. Vanguard Group Inc. grew its position in Liberty Media Corporation - Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company's stock worth $2,132,636,000 after purchasing an additional 117,804 shares in the last quarter. Finally, ShawSpring Partners LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth approximately $22,720,000. Institutional investors own 92.26% of the company's stock.

Wall Street Analysts Forecast Growth

FWONK has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered 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 research report on Friday, May 29th. 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 report on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of 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 cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. Finally, UBS Group lowered their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 1.9%

Liberty Media Corporation - Liberty Formula One Series C stock opened at $89.32 on Wednesday. The company's fifty day simple moving average is $88.29 and its 200-day simple moving average is $90.13. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The stock has a market cap of $20.02 billion, a P/E ratio of 40.97 and a beta of 0.47.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate 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, equities research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.96 earnings per share for the current fiscal year.

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

In related news, Director Chase Carey sold 100,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Liberty Media Corporation - Liberty Formula One Series C 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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