Praxis Investment Management Inc. Purchases 2,770 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Praxis Investment Management Inc. increased its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ: FWONK) by 28.1%, purchasing an additional 2,770 shares, bringing its total to 12,640 shares valued at approximately $1.32 million.
• Liberty Media Corporation reported earnings of $1.52 per share for the last quarter, exceeding analysts' expectations of $0.81, with revenues reaching $1.34 billion compared to an estimated $1.28 billion.
• Many large investors are actively adjusting their stakes in FWONK, with institutional ownership totaling 92.26% and various investment firms raising their price targets to as high as $120.00.

Praxis Investment Management Inc. lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 28.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,640 shares of the company's stock after purchasing an additional 2,770 shares during the period. Praxis Investment Management Inc.'s holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in FWONK. GW&K Investment Management LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the 1st quarter worth $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth $29,000. Allianz Asset Management GmbH increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 144.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 769 shares of the company's stock worth $80,000 after acquiring an additional 455 shares during the period. Western Pacific Wealth Management LP increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 71.4% during the 2nd quarter. Western Pacific Wealth Management LP now owns 1,200 shares of the company's stock worth $125,000 after acquiring an additional 500 shares during the period. Finally, Inspire Investing LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth $208,000. Institutional investors own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $98.95 on Friday. The stock's fifty day moving average price is $101.93 and its two-hundred day moving average price is $97.66. The company has a market cap of $22.13 billion, a PE ratio of 97.01 and a beta of 0.47. 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.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.71. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. On average, equities analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

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

In related news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the sale, the director owned 1,781 shares of the company's stock, valued at $178,456.20. This trade represents a 33.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 5,651 shares of company stock worth $572,250. Company insiders own 4.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FWONK. JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation - Liberty Formula One Series C from $108.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. The Goldman Sachs Group restated a "buy" rating and set a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. UBS Group raised their price objective on Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, Susquehanna raised their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $121.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C has a consensus rating of "Moderate Buy" and an average price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.

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