Manchester Global Management UK Ltd Has $31.10 Million Stake in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Manchester Global Management UK Ltd cut its FWONK stake by 6.0% in the fourth quarter, but still held 315,746 shares worth about $31.1 million. The position made up 4.2% of the fund’s portfolio.
• Liberty Media Formula One Series C shares were down 0.5% in Wednesday trading, opening at $89.63. The stock has a market cap of $20.09 billion and has traded between $80.15 and $109.36 over the past year.
• The company recently beat earnings expectations, reporting $0.03 EPS versus an expected loss, and revenue of $711 million versus estimates of $683.42 million. Analyst sentiment remains mixed but positive overall, with a Moderate Buy consensus and an average price target of $111.75.

Manchester Global Management UK Ltd decreased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 315,746 shares of the company's stock after selling 20,149 shares during the quarter. Liberty Media Corporation - Liberty Formula One Series C comprises about 4.2% of Manchester Global Management UK Ltd's portfolio, making the stock its 10th largest holding. Manchester Global Management UK Ltd owned approximately 0.13% of Liberty Media Corporation - Liberty Formula One Series C worth $31,104,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of FWONK. Zions Bancorporation National Association UT raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after purchasing an additional 188 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C during the third quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock valued at $42,000 after purchasing an additional 175 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 Trading Down 0.5%

Shares of FWONK opened at $89.63 on Wednesday. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The company has a market cap of $20.09 billion, a P/E ratio of 41.11 and a beta of 0.47. The company's fifty day simple moving average is $89.24 and its 200-day simple moving average is $89.50.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share 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 analysts' expectations of $683.42 million. Analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

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

In related news, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction dated 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 transaction, the director owned 94,356 shares of the company's stock, valued at $8,518,459.68. This trade represents a 51.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FWONK shares. Weiss Ratings raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. UBS Group decreased 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 research note on Wednesday, April 15th. Wells Fargo & Company upped 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 research note on Friday, May 8th. Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, JPMorgan Chase & Co. decreased their price target 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 note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Company 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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