Teachers Retirement System of The State of Kentucky Trims Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Teachers Retirement System of The State of Kentucky reduced its stake in Liberty Media Formula One Series C by 15.6% in the first quarter, selling 10,459 shares and leaving it with 56,768 shares worth about $4.83 million.
• Liberty Media Formula One Series C reported better-than-expected quarterly results, posting EPS of $0.03 versus an expected loss and revenue of $711 million versus estimates of $683.42 million.
• Recent trading and analyst activity has been mixed: insiders including Renee L. Wilm and Chase Carey sold shares, while Wall Street’s consensus rating remains Moderate Buy with an average target price of $111.14.

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 15.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,768 shares of the company's stock after selling 10,459 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $4,826,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock worth $29,000 after buying an additional 188 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at about $34,000. Headlands Technologies LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at about $38,000. Osterweis Capital Management Inc. purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock worth $42,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $100.87 on Wednesday. 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 business has a 50 day simple moving average of $91.82 and a two-hundred day simple moving average of $89.51. The stock has a market capitalization of $22.60 billion, a PE ratio of 46.27 and a beta of 0.44.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analysts' expectations of $683.42 million. On average, analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 11,597 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the sale, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the transaction, the director directly owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FWONK. Wells Fargo & Company lifted their target price on 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 note 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 report on Saturday, June 6th. JPMorgan Chase & Co. reduced their price objective 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. Bank of America boosted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Finally, UBS Group cut their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and a consensus target price of $111.14.

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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