Mirae Asset Global Investments Co. Ltd. Makes New $3.93 Million Investment in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Mirae Asset Global Investments opened a new FWONK position in the third quarter, buying 42,555 shares valued at approximately $3.93 million.
• Liberty Media reported quarterly EPS of $0.43, below analyst expectations of $0.59, and revenue of $1.23 billion, also slightly short of consensus.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $117.62; the stock was trading at $106.33 in the cited session.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,555 shares of the company's stock, valued at approximately $3,932,000.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE raised 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 purchasing an additional 1,376,984 shares during the last quarter. Junto Capital Management LP boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 178.1% during the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company's stock worth $162,431,000 after purchasing an additional 1,093,372 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 26.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company's stock worth $396,626,000 after buying an additional 981,047 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 893.8% during the second quarter. Engineers Gate Manager LP now owns 1,049,351 shares of the company's stock worth $99,835,000 after buying an additional 943,757 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 306.1% during the first quarter. Renaissance Technologies LLC now owns 827,479 shares of the company's stock worth $70,352,000 after buying an additional 623,700 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 Trading Down 0.2%

FWONK traded down $0.19 during midday trading on Friday, hitting $106.33. The company's stock had a trading volume of 3,445,435 shares, compared to its average volume of 2,341,325. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $108.35. The firm has a 50-day moving average price of $94.54 and a two-hundred day moving average price of $92.18. The firm has a market cap of $23.85 billion, a P/E ratio of 122.22 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.16). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. On average, equities analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FWONK shares. Jefferies Financial Group began coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Wednesday, September 9th. They set a "buy" rating and a $115.00 price objective on the stock. UBS Group lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Susquehanna cut their price target on Liberty Media Corporation - Liberty Formula One Series C from $114.00 to $110.00 and set a "positive" rating for the company in a report on Friday, October 16th. Zacks Research downgraded Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 29th. Finally, Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "strong sell" rating to a "sell" rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and a consensus target price of $117.62.

Key Liberty Media Corporation - Liberty Formula One Series C News

Here are the key news stories impacting Liberty Media Corporation - Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Liberty Media Corporation's Liberty Formula One Series C tracking stock represents an economic interest in the company's Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport's international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.

Want to see what other hedge funds are holding FWONK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.