UBS Group AG Sells 163,781 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• UBS Group AG trimmed its stake in Liberty Media - Formula One (NASDAQ:FWONK) by 18.5%, selling 163,781 shares and leaving it with 722,797 shares (about 0.29% of the company) valued at approximately $71.2 million.
• Institutional ownership is high at 92.26%, with notable recent moves including Cantillon Capital building a new ~$121.8 million position and JPMorgan increasing its holding by 33.4% to 357,780 shares.
• FWONK has a market cap of $19.71 billion and a 52-week range of $80.15–$109.36; analysts show a consensus of "Moderate Buy" with an average price target of $110.78, though UBS has cut its target to $104 and rated the stock "neutral."

UBS Group AG decreased its position in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 722,797 shares of the company's stock after selling 163,781 shares during the quarter. UBS Group AG owned 0.29% of Liberty Media Corporation - Liberty Formula One Series C worth $71,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FWONK. Allspring Global Investments Holdings LLC grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 5.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company's stock worth $20,871,000 after buying an additional 10,620 shares during the last quarter. Banco Santander S.A. bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at approximately $1,685,000. Cantillon Capital Management LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 3rd quarter worth approximately $121,803,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 3rd quarter worth approximately $3,414,000. Finally, JPMorgan Chase & Co. grew its position in Liberty Media Corporation - Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company's stock worth $37,375,000 after acquiring an additional 89,673 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 Price Performance

Shares of NASDAQ FWONK opened at $87.94 on Monday. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36. The firm has a market capitalization of $19.71 billion, a P/E ratio of 39.97, a P/E/G ratio of 15.72 and a beta of 0.44. The company's 50 day simple moving average is $86.70 and its 200 day simple moving average is $91.33.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein raised Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and raised their price target for the company from $110.00 to $111.00 in a report on Monday, January 12th. Weiss Ratings upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. JPMorgan Chase & Co. lowered their target price 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 research note on Thursday, March 19th. Wall Street Zen cut Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Finally, UBS Group reduced their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $110.78.

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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