Liberty Media Corporation - Liberty Formula One Series C $FWONK Stock: Vontobel Holding Ltd. Boosts Position

Key Points

• Vontobel Holding Ltd. increased its FWONK position by 356.8% in the third quarter, ending with 221,985 shares valued at approximately $20.5 million. Institutional investors collectively own 92.26% of the stock.
• FWONK shares were flat at $90.81, with a market capitalization of $20.37 billion; the stock has traded between $80.15 and $107.31 over the past year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $115.50, despite the company missing quarterly EPS and revenue expectations in its latest reported results.

Vontobel Holding Ltd. boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 356.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,985 shares of the company's stock after acquiring an additional 173,385 shares during the period. Vontobel Holding Ltd. owned about 0.10% of Liberty Media Corporation - Liberty Formula One Series C worth $20,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.9% in the first 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 raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company's stock worth $505,297,000 after purchasing an additional 645,996 shares during the last quarter. Bank of America Corp DE lifted its stake 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 valued at $387,845,000 after buying an additional 1,376,984 shares in the last quarter. Junto Capital Management LP lifted its stake 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 valued at $162,431,000 after buying an additional 1,093,372 shares in the last quarter. Finally, Hawk Ridge Capital Management LP lifted its stake 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 valued at $157,258,000 after buying an additional 518,300 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of FWONK remained flat at $90.81 on Friday. 1,878,139 shares of the company traded hands, compared to its average volume of 2,602,936. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 133.54 and a beta of 0.46. The firm has a 50-day moving average price of $97.28 and a 200 day moving average price of $93.92. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $107.31.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts' expectations of $952.78 million. On average, sell-side analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FWONK. Sanford C. Bernstein raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 28th. Guggenheim upped their price objective on Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Monday, August 17th. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Susquehanna decreased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $114.00 to $110.00 and set a "positive" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.50.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Liberty Media Corporation's Liberty Formula One Series C represents a non-voting tracking stock associated with the company's Formula One Group. The group's principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship's commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.

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