Natixis Advisors LLC Buys 72,969 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Natixis Advisors LLC increased its stake in Liberty Media — Formula One Series C (NASDAQ:FWONK) by 11.7% in Q3, purchasing 72,969 shares to hold 698,623 shares worth about $72.97 million.
• Institutional ownership is very high at 92.26%, led by Vanguard (20.42M shares, ~$2.13B) and including notable moves such as Norges Bank establishing a new stake worth roughly $208.6 million.
• Analysts hold a consensus of Moderate Buy with an average target price of $112.56, and several firms (JPMorgan, Wells Fargo, Sanford C. Bernstein) recently raised ratings or price targets.

Natixis Advisors LLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,623 shares of the company's stock after purchasing an additional 72,969 shares during the period. Natixis Advisors LLC owned 0.31% of Liberty Media Corporation - Liberty Formula One Series C worth $72,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company's stock valued at $2,132,636,000 after acquiring an additional 117,804 shares during the period. Schroder Investment Management Group boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 4.9% in the second quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company's stock valued at $904,653,000 after acquiring an additional 402,705 shares during the last quarter. Geode Capital Management LLC increased its position in Liberty Media Corporation - Liberty Formula One Series C by 3.4% in the second quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company's stock worth $400,694,000 after purchasing an additional 126,501 shares during the period. Bank of America Corp DE increased its position in Liberty Media Corporation - Liberty Formula One Series C by 3.8% in the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company's stock worth $278,594,000 after purchasing an additional 98,354 shares during the period. Finally, Norges Bank bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth about $208,588,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FWONK has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Tuesday, December 2nd. Wells Fargo & Company upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $93.00 to $95.00 in a research report on Friday, February 27th. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $112.56.

Insider Activity

In related news, Director Chase Carey sold 83,536 shares of the firm's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director directly owned 94,356 shares in the company, valued at $9,147,814.20. This trade represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

NASDAQ:FWONK opened at $83.77 on Monday. The stock has a market capitalization of $18.77 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 12.04 and a beta of 0.44. The business's 50-day simple moving average is $89.38 and its 200-day simple moving average is $95.76. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $75.26 and a fifty-two week high of $109.36.

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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