Massachusetts Financial Services Co. MA Takes $69.32 Million Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Massachusetts Financial Services acquired 703,660 shares of Liberty Media Formula One Series C (NASDAQ:FWONK) in Q4, a new position worth about $69.32 million, or roughly 0.28% of the class.
• Institutional investors own approximately 92.26% of FWONK, and several hedge funds have modestly adjusted their holdings in recent quarters.
• Analysts give FWONK a consensus rating of "Moderate Buy" with an average price target of $111.11, despite mixed recent moves (e.g., Sanford Bernstein upgraded while JPMorgan and Wells Fargo trimmed targets).

Massachusetts Financial Services Co. MA acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 703,660 shares of the company's stock, valued at approximately $69,318,000. Massachusetts Financial Services Co. MA owned approximately 0.28% of Liberty Media Corporation - Liberty Formula One Series C as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FWONK. Axxcess Wealth Management LLC boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 2.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company's stock worth $552,000 after purchasing an additional 119 shares in the last quarter. Compound Planning Inc. increased its position in shares of 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 buying an additional 121 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 4.7% in the third quarter. Yousif Capital Management LLC now owns 2,741 shares of the company's stock valued at $286,000 after buying an additional 124 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 36.0% in the third quarter. Aster Capital Management DIFC Ltd now owns 548 shares of the company's stock valued at $57,000 after buying an additional 145 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 22.4% in the third quarter. Allianz Asset Management GmbH now owns 941 shares of the company's stock valued at $98,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FWONK shares. Sanford C. Bernstein raised Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. JPMorgan Chase & Co. lowered their price target 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. Wells Fargo & Company reduced their price objective on Liberty Media Corporation - Liberty Formula One Series C from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.11.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 2.2%

Shares of NASDAQ:FWONK opened at $90.68 on Tuesday. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $77.00 and a 52 week high of $109.36. The company's 50 day moving average is $86.18 and its two-hundred day moving average is $92.84. The company has a market cap of $20.32 billion, a PE ratio of 41.22, a P/E/G ratio of 15.67 and a beta of 0.53.

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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