Liberty Media Corporation - Liberty Formula One Series C $FWONK Stock Position Lifted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its FWONK stake by 800.2% in the first quarter, ending with 747,954 shares worth about $63.6 million.
• Liberty Media Formula One Series C posted better-than-expected quarterly results, with EPS of $0.03 versus an expected loss and revenue of $711 million versus estimates of $683.4 million.
• Wall Street’s view is mixed but generally cautious: the stock has an average Hold rating and a consensus price target of $110.43, while shares recently traded around $90.45.

Assenagon Asset Management S.A. lifted its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 800.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 747,954 shares of the company's stock after acquiring an additional 664,868 shares during the quarter. Assenagon Asset Management S.A. owned 0.33% of Liberty Media Corporation - Liberty Formula One Series C worth $63,591,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Invesco Ltd. boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company's stock worth $52,701,000 after purchasing an additional 170,435 shares during the period. Cresset Asset Management LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $502,000. Daiwa Securities Group Inc. raised its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 20.2% during the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company's stock worth $3,902,000 after purchasing an additional 6,285 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth about $1,863,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at about $1,255,000. 92.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FWONK shares. UBS Group lowered their price objective 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. Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. JPMorgan Chase & Co. decreased their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $111.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Wells Fargo & Company upped their target price 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. Finally, Weiss Ratings upgraded 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. Four 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, the stock presently has an average rating of "Hold" and an average price target of $110.43.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.5%

Liberty Media Corporation - Liberty Formula One Series C stock opened at $90.45 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The firm has a market capitalization of $20.27 billion, a price-to-earnings ratio of 41.49 and a beta of 0.47. The firm has a 50-day moving average price of $89.46 and a two-hundred day moving average price of $89.31.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced 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 firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. Research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C 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 sale, the director 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 SEC filing for this sale provides additional information. 4.31% of the stock is owned by insiders.

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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