Madison Asset Management LLC Reduces Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Madison Asset Management cut its stake in Liberty Media Formula One Series C by 8.0% in Q4, selling 77,693 shares and leaving it with 892,786 shares worth about $87.95 million.
• Liberty Media Formula One Series C reported better-than-expected quarterly results, posting EPS of $0.03 versus an estimated loss of $0.06 and revenue of $711.0 million versus $683.42 million expected.
• Analysts remain cautiously positive on FWONK, with six Buy ratings and five Hold ratings, giving it an average Moderate Buy rating and a consensus price target of $111.67.

Madison Asset Management LLC reduced its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 892,786 shares of the company's stock after selling 77,693 shares during the quarter. Madison Asset Management LLC owned approximately 0.36% of Liberty Media Corporation - Liberty Formula One Series C worth $87,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FWONK. Axxcess Wealth Management LLC raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company's stock worth $552,000 after buying an additional 119 shares in the last quarter. Farther Finance Advisors LLC raised its position in Liberty Media Corporation - Liberty Formula One Series C by 26.6% in the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company's stock worth $56,000 after acquiring an additional 120 shares in the last quarter. Compound Planning Inc. lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 6.1% in the third quarter. Compound Planning Inc. now owns 2,094 shares of the company's stock valued at $219,000 after acquiring an additional 121 shares during the period. Aster Capital Management DIFC Ltd boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 36.0% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 548 shares of the company's stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 0.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company's stock valued at $3,234,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of Liberty Media Corporation - Liberty Formula One Series C stock opened at $90.69 on Wednesday. The firm has a 50-day moving average of $86.99 and a 200-day moving average of $90.99. The stock has a market cap of $20.34 billion, a PE ratio of 41.60, a PEG ratio of 15.30 and a beta of 0.44. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36.

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 earnings per share (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 the consensus estimate of $683.42 million. Equities research analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FWONK. Wells Fargo & Company increased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday. 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 research report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on Liberty Media Corporation - Liberty Formula One Series C from $122.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Finally, UBS Group decreased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating for the company in a report on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $111.67.

About Liberty Media Corporation - Liberty Formula One Series C

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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