Swiss Life Asset Management Ltd Purchases 12,928 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Swiss Life Asset Management Ltd boosted its stake in Liberty Media — Formula One Series C by 53.1% in Q3, buying 12,928 shares to hold 37,274 shares worth $3.893 million per its latest 13F filing.
• Analysts give FWONK a consensus rating of "Moderate Buy" with an average target of $111.78 (six Buys, five Holds), following mixed revisions such as Wells Fargo raising to equal-weight ($95) and Sanford C. Bernstein upgrading to outperform ($111).
• FWONK opened at $81.42, trading well below the average analyst target and nearer its 52-week low ($75.26) than high ($109.36); the stock has a market cap of $18.25 billion and a P/E of 37.01.

Swiss Life Asset Management Ltd boosted its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 53.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,274 shares of the company's stock after buying an additional 12,928 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $3,893,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 11.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,524 shares of the company's stock worth $577,000 after acquiring an additional 566 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth $794,000. Danske Bank A S acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth $15,332,000. Advisory Services Network LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at $34,000. Finally, Dark Forest Capital Management LP bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at $660,000. Institutional investors and hedge funds own 92.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on FWONK shares. Wells Fargo & Company raised shares of Liberty Media Corporation - Liberty Formula One Series C from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $93.00 to $95.00 in a research report on Friday, February 27th. JPMorgan Chase & Co. decreased their price objective 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Monday, December 29th. Finally, Sanford C. Bernstein raised Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and increased their price target for the company from $110.00 to $111.00 in a research report on Monday, January 12th. Six investment 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, Liberty Media Corporation - Liberty Formula One Series C has a consensus rating of "Moderate Buy" and an average target price of $111.78.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

NASDAQ FWONK opened at $81.42 on Monday. The stock has a market cap of $18.25 billion, a PE ratio of 37.01, a P/E/G ratio of 11.80 and a beta of 0.44. The firm has a 50-day moving average of $87.16 and a 200-day moving average of $94.63. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $75.26 and a 52-week high of $109.36.

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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