Ruane Cunniff & Goldfarb L.P. Sells 77,871 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Ruane Cunniff & Goldfarb L.P. trimmed its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,491,118 shares of the company's stock after selling 77,871 shares during the period. Liberty Media Corporation - Liberty Formula One Series C accounts for approximately 8.4% of Ruane Cunniff & Goldfarb L.P.'s holdings, making the stock its 3rd largest holding. Ruane Cunniff & Goldfarb L.P. owned approximately 2.20% of Liberty Media Corporation - Liberty Formula One Series C worth $540,930,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company's stock worth $2,081,841,000 after buying an additional 715,525 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company's stock worth $1,250,671,000 after buying an additional 129,822 shares during the last quarter. Schroder Investment Management Group boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 2.1% in the 3rd quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company's stock worth $923,656,000 after buying an additional 186,077 shares during the last quarter. Geode Capital Management LLC boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,983,116 shares of the company's stock worth $391,290,000 after buying an additional 36,599 shares during the last quarter. Finally, Nuveen LLC boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 12.8% in the 4th quarter. Nuveen LLC now owns 3,322,148 shares of the company's stock worth $327,265,000 after buying an additional 376,712 shares during the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on FWONK. JPMorgan Chase & Co. decreased their price target on 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. UBS Group decreased their price target on Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 15th. Wells Fargo & Company raised their price target on 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 note on Friday, May 8th. 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. Finally, Weiss Ratings upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Liberty Media Corporation - Liberty Formula One Series C stock opened at $88.93 on Friday. The stock's 50-day moving average is $89.16 and its 200-day moving average is $89.59. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 40.79 and a beta of 0.47. 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 released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analysts' expectations of $683.42 million. Research analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 EPS for the current year.

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

In other news, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.31% of the stock is currently owned by company insiders.

Liberty Media Corporation - Liberty Formula One Series C 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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