The Manufacturers Life Insurance Company Has $396.63 Million Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• The Manufacturers Life Insurance Company increased its FWONK position by 26.6% in the first quarter, acquiring 981,047 additional shares. It now holds 4.67 million shares worth approximately $396.6 million, or 2.08% of the company.
• FWONK recently traded at $98.33, up 1.3%, with a $22.04 billion market capitalization. The company exceeded quarterly expectations, reporting $0.03 earnings per share and $711 million in revenue.
• Analyst sentiment remains mixed, with three Buy ratings and four Hold ratings; the consensus rating is Hold with a $110.20 price target. Meanwhile, two insiders sold shares totaling more than $10 million.

The Manufacturers Life Insurance Company grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 26.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,665,090 shares of the company's stock after buying an additional 981,047 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 2.08% of Liberty Media Corporation - Liberty Formula One Series C worth $396,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT boosted its holdings in shares of 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 acquiring an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at $38,000. Osterweis Capital Management Inc. bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Liberty Media Corporation - Liberty Formula One Series C by 70.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock valued at $42,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 1.3%

Liberty Media Corporation - Liberty Formula One Series C stock opened at $98.33 on Tuesday. The company has a market cap of $22.04 billion, a PE ratio of 45.11 and a beta of 0.44. 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 company's 50-day moving average is $93.11 and its two-hundred day moving average is $89.57.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 EPS for the current year.

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on 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 sale, the director 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Monday, June 15th. The stock was 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 of the company's stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FWONK. UBS Group decreased their target price on Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation - Liberty Formula One Series C from $111.00 to $124.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Finally, Bank of America increased their price objective 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. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C currently has a consensus rating of "Hold" and a consensus target price of $110.20.

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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