Sands Capital Management LLC Boosts Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Sands Capital Management increased its stake in Liberty Media Formula One Series C (NASDAQ: FWONK) by 3.4% in the fourth quarter, buying 67,886 more shares and bringing its total to 2,082,513 shares worth about $205.1 million.
• Several other hedge funds also adjusted positions, and institutional investors now own 92.26% of the stock, underscoring heavy professional ownership.
• On the operating side, FWONK beat earnings expectations in its latest quarter, reporting $0.03 EPS versus an estimated loss and revenue of $711 million; meanwhile, analysts have a mixed but generally positive view with a Moderate Buy consensus and average price target of $111.75.

Sands Capital Management LLC lifted its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,082,513 shares of the company's stock after buying an additional 67,886 shares during the period. Sands Capital Management LLC owned approximately 0.83% of Liberty Media Corporation - Liberty Formula One Series C worth $205,148,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Intrepid Capital Management Inc. grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 8.5% in the 4th quarter. Intrepid Capital Management Inc. now owns 31,106 shares of the company's stock valued at $3,064,000 after buying an additional 2,427 shares during the last quarter. Dockside LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter valued at $3,516,000. Arax Advisory Partners purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter valued at $326,000. Brown Advisory Inc. grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 18.3% in the 4th quarter. Brown Advisory Inc. now owns 23,083 shares of the company's stock valued at $2,274,000 after buying an additional 3,573 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter valued at $2,484,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FWONK shares. JPMorgan Chase & Co. dropped their target price 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 report on Friday, May 29th. Wells Fargo & Company increased their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. 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, May 1st. Finally, UBS Group lowered their price objective on shares of 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 report on Wednesday, April 15th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of Liberty Media Corporation - Liberty Formula One Series C stock opened at $88.93 on Monday. Liberty Media Corporation - Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The company has a market capitalization of $19.93 billion, a P/E ratio of 40.79 and a beta of 0.47. The company's fifty day moving average is $89.16 and its two-hundred day moving average is $89.57.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its 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 firm had revenue of $711.00 million during the quarter, compared to analysts' expectations of $683.42 million. As a group, equities analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.

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

In other news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction dated 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 $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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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