Principal Financial Group Inc. Grows Stock Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Principal Financial Group increased its stake in Liberty Media — Formula One Series C (FWONK) by 1.0% in Q4, adding 129,822 shares to hold 12,695,840 shares (about 5.08% ownership) valued at roughly $1.25 billion, making it the fund's 29th largest position (~0.6% of its holdings).
• Institutional ownership is very high at 92.26%, with other notable moves including Vanguard raising its position to 21,133,295 shares (~$2.08 billion) and Cantillon Capital initiating a new ~$121.8 million stake.
• Analyst sentiment is mixed but skewed positive — the consensus rating is a "Moderate Buy" with an average target of $110.78, despite several recent target cuts from firms like JPMorgan, UBS and Wells Fargo.

Principal Financial Group Inc. grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,695,840 shares of the company's stock after purchasing an additional 129,822 shares during the quarter. Liberty Media Corporation - Liberty Formula One Series C makes up approximately 0.6% of Principal Financial Group Inc.'s holdings, making the stock its 29th biggest position. Principal Financial Group Inc. owned about 5.08% of Liberty Media Corporation - Liberty Formula One Series C worth $1,250,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FWONK. Cantillon Capital Management LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at about $121,803,000. Vanguard Group Inc. increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company's stock valued at $2,081,841,000 after purchasing an additional 715,525 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter valued at about $69,318,000. Hawk Ridge Capital Management LP purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at about $63,244,000. Finally, Jain Global LLC increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 6,361.7% during the 3rd quarter. Jain Global LLC now owns 419,042 shares of the company's stock valued at $43,769,000 after purchasing an additional 412,557 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings raised 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. JPMorgan Chase & Co. reduced their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $122.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 19th. UBS Group reduced their target price 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 reduced their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $95.00 to $89.00 and set an "equal weight" rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $110.78.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 0.3%

Liberty Media Corporation - Liberty Formula One Series C stock opened at $88.17 on Tuesday. The firm has a 50 day moving average of $86.70 and a 200 day moving average of $91.33. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 15.72 and a beta of 0.44. 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 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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