OP Asset Management Ltd Makes New $1.77 Million Investment in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• OP Asset Management disclosed a new stake in Liberty Media Formula One Series C, buying 20,802 shares worth about $1.77 million in the first quarter.
• Institutional ownership remains heavy, with hedge funds and other investors holding 92.26% of the stock. The article also notes major recent buying by firms such as Berkshire Hathaway and Norges Bank.
• Analyst sentiment is mixed but mostly cautious: the stock has a Hold consensus rating and an average price target of $110.43, while recent insider sales included large transactions by Renee L. Wilm and Chase Carey.

OP Asset Management Ltd purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,802 shares of the company's stock, valued at approximately $1,769,000.

A number of other hedge funds also recently modified their holdings of FWONK. Silver Point Capital L.P. bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter worth $302,000. Berkshire Hathaway Inc bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter valued at about $297,358,000. Naya Capital Management UK Ltd. acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the fourth quarter valued at about $208,238,000. Norges Bank bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth about $195,762,000. Finally, Franklin Resources Inc. raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company's stock worth $114,192,000 after acquiring an additional 841,729 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Analyst Upgrades and Downgrades

FWONK has been the topic of several analyst reports. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. UBS Group lowered 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 for the company in a report on Wednesday, April 15th. Wells Fargo & Company boosted their price target 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 research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective 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. Finally, 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. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $110.43.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK opened at $92.17 on Monday. The firm has a market cap of $20.66 billion, a PE ratio of 42.28 and a beta of 0.47. The company's fifty day simple moving average is $89.50 and its 200 day simple moving average is $89.32. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly 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 company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. On average, equities analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Insider Activity at Liberty Media Corporation - Liberty Formula One Series C

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. The SEC filing for this sale provides additional information.

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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