Voya Investment Management LLC Purchases 12,817 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Voya Investment Management LLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 25.8%, holding a total of 62,413 shares worth approximately $5.6 million.
• Liberty Media Corporation reported a quarterly earnings per share (EPS) of $1.52, significantly beating analysts' expectations of $0.81, alongside revenues of $1.34 billion.
• As of the latest data, 92.26% of Liberty Media's stock is owned by hedge funds and institutional investors, reflecting significant institutional interest in the company.

Voya Investment Management LLC grew its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 25.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,413 shares of the company's stock after purchasing an additional 12,817 shares during the quarter. Voya Investment Management LLC's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $5,618,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. GW&K Investment Management LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the first quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% in the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock valued at $194,000 after buying an additional 2,013 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Liberty Media Corporation - Liberty Formula One Series C by 22.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company's stock worth $382,000 after buying an additional 779 shares during the period. Allstate Corp lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 33.8% during the first quarter. Allstate Corp now owns 8,253 shares of the company's stock worth $743,000 after buying an additional 2,087 shares during the last quarter. Finally, Praxis Investment Management Inc. lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 10.7% during the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock worth $888,000 after buying an additional 950 shares during the last quarter. 92.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $100.20, for a total transaction of $89,979.60. Following the transaction, the director directly owned 1,781 shares in the company, valued at approximately $178,456.20. This represents a 33.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 5,651 shares of company stock worth $572,250.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK traded down $0.87 on Monday, hitting $102.80. The stock had a trading volume of 814,162 shares, compared to its average volume of 949,428. The firm's 50 day moving average price is $100.80 and its 200-day moving average price is $95.59. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $74.34 and a twelve month high of $106.26. The company has a market capitalization of $22.99 billion, a price-to-earnings ratio of 100.79 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.71. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, sell-side analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on FWONK. JPMorgan Chase & Co. upped their target price on shares of 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. UBS Group lifted their target price on Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Bank of America started coverage on Liberty Media Corporation - Liberty Formula One Series C in a report on Monday, August 4th. They issued a "neutral" rating and a $110.00 price target for the company. 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 research report on Tuesday, July 22nd. Finally, Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "buy" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Liberty Media Corporation - Liberty Formula One Series C has a consensus rating of "Moderate Buy" and an average 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.