Squarepoint Ops LLC Buys 21,759 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Squarepoint Ops LLC increased its FWONK stake by 261.3% in the second quarter, purchasing 21,759 additional shares for a total holding of 30,086 shares valued at approximately $2.86 million.
• Institutional ownership is substantial, with hedge funds and other institutional investors holding 92.26% of the stock. California State Teachers Retirement System and several major investors, including Berkshire Hathaway and Norges Bank, also reported significant positions.
• FWONK recently traded at $95.59 after reporting quarterly EPS of $0.02, below the $0.24 consensus estimate, while revenue also missed expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $117.57.

Squarepoint Ops LLC lifted its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 261.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,086 shares of the company's stock after purchasing an additional 21,759 shares during the quarter. Squarepoint Ops LLC's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 9,400.5% in the 2nd quarter. California State Teachers Retirement System now owns 34,777,666 shares of the company's stock worth $3,308,747,000 after purchasing an additional 34,411,605 shares in the last quarter. Silver Point Capital L.P. bought a new stake in Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter worth about $302,000. Berkshire Hathaway Inc bought a new stake in Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter worth about $297,358,000. Naya Capital Management UK Ltd. purchased a new position in Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter worth about $208,238,000. Finally, Norges Bank purchased a new position in Liberty Media Corporation - Liberty Formula One Series C in the 4th quarter worth about $195,762,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $95.59 on Monday. The company has a market cap of $21.44 billion, a price-to-earnings ratio of 140.57 and a beta of 0.43. 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 firm has a fifty day moving average price of $99.73 and a 200-day moving average price of $92.50.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. Equities research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

FWONK has been the topic of a number of research analyst reports. Sanford C. Bernstein increased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. UBS Group raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C has an average rating of "Moderate Buy" and an average price target of $117.57.

Liberty Media Corporation - Liberty Formula One Series C Profile

Liberty Media Corporation's Liberty Formula One Group, represented by the Series C Liberty Formula One common stock NASDAQ: FWONK, is a tracking-stock group tied primarily to the company's interests in Formula 1. The group's principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.

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