SG Americas Securities LLC Grows Stake in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• SG Americas Securities LLC boosted its stake in Liberty Media — Formula One Series C by 4,851.6% in Q4, adding 47,546 shares to own 48,526 shares worth about $4.78 million.
• Analyst sentiment is mixed but generally positive: the stock has an average rating of "Moderate Buy" with an average target of $111.78, while firms including JPMorgan and Sanford C. Bernstein have issued notable target and rating changes.
• FWONK opened at $85.36 (52-week range $75.26–$109.36), has a market cap of about $19.13 billion, and roughly 92.26% of shares are held by institutional investors and hedge funds.

SG Americas Securities LLC increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 4,851.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,526 shares of the company's stock after purchasing an additional 47,546 shares during the quarter. SG Americas Securities LLC's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $4,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FWONK. Allspring Global Investments Holdings LLC raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 5.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company's stock worth $20,871,000 after acquiring an additional 10,620 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $1,255,000. Banco Santander S.A. purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth about $1,685,000. Assenagon Asset Management S.A. grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 79.9% during the third quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company's stock worth $8,947,000 after purchasing an additional 38,054 shares during the last quarter. Finally, Cantillon Capital Management LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth about $121,803,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FWONK has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on 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. Sanford C. Bernstein upgraded Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Wells Fargo & Company raised Liberty Media Corporation - Liberty Formula One Series C from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $93.00 to $95.00 in a report on Friday, February 27th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and an average target price of $111.78.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $85.36 on Thursday. 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. The firm has a 50-day simple moving average of $86.14 and a 200-day simple moving average of $93.72. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 14.55 and a beta of 0.53.

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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