Strs Ohio Invests $2.37 Million in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Strs Ohio invested approximately $2.37 million in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ: FWONK) by acquiring 26,328 shares during the first quarter.
• Analysts have raised price targets for Liberty Media, with UBS Group increasing its target from $98 to $107 and Guggenheim elevating it from $104 to $120, indicating growing confidence in the stock's potential.
• The company's stock has shown strong performance with a 52-week range between $74.34 and $106.26 and a recent earnings report revealing earnings per share of $1.52, outperforming estimates.

Strs Ohio bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,328 shares of the company's stock, valued at approximately $2,370,000.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 22.7% during the 1st quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company's stock worth $11,570,000 after buying an additional 23,809 shares during the period. Public Employees Retirement System of Ohio raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock worth $37,529,000 after buying an additional 4,897 shares during the period. California State Teachers Retirement System raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after buying an additional 6,297 shares during the period. HighPoint Advisor Group LLC raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 22.3% during the 1st quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company's stock worth $382,000 after buying an additional 779 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% in the first quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock worth $194,000 after purchasing an additional 2,013 shares during the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group reissued a "buy" rating and issued a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. Wells Fargo & Company lowered their price objective on Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded Liberty Media Corporation - Liberty Formula One Series C from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Bank of America initiated coverage on Liberty Media Corporation - Liberty Formula One Series C in a research report on Monday, August 4th. They set a "neutral" rating and a $110.00 price target for the company. Finally, Rosenblatt Securities increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 0.0%

Shares of FWONK stock traded down $0.01 on Friday, reaching $103.67. The company's stock had a trading volume of 1,995,375 shares, compared to its average volume of 883,953. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $74.34 and a 12-month high of $106.26. The company has a market capitalization of $23.18 billion, a P/E ratio of 101.64 and a beta of 0.46. The stock's 50 day simple moving average is $100.81 and its 200-day simple moving average is $95.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.71. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.28 billion. Research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the sale, the director owned 1,781 shares in the company, valued at $178,456.20. This trade represents a 33.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 5,651 shares of company stock worth $572,250 in the last quarter. Company insiders own 4.31% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.