Victory Capital Management Inc. Increases Position in Liberty Media Corporation - Liberty Formula One Series C $FWONK

Key Points

• Victory Capital Management raised its stake in Liberty Media — Formula One Series C (NASDAQ: FWONK) by 3.9% to 341,793 shares, worth about $35.7 million and representing roughly 0.15% of the class C shares.
• Cantillon Capital established a new position in FWONK valued at approximately $121.8 million, and overall institutional investors now own about 92.26% of the stock.
• Director Chase Carey sold 83,536 shares on December 17 at an average price of $96.95 for about $8.10 million, reducing his holding by roughly 46.96% to 94,356 shares.

Victory Capital Management Inc. raised its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,793 shares of the company's stock after buying an additional 12,891 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Liberty Media Corporation - Liberty Formula One Series C worth $35,700,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in FWONK. Allspring Global Investments Holdings LLC raised its position in Liberty Media Corporation - Liberty Formula One Series C by 5.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company's stock valued at $20,871,000 after purchasing an additional 10,620 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at approximately $1,255,000. Aviva PLC grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 7.4% during the 2nd quarter. Aviva PLC now owns 158,167 shares of the company's stock worth $16,528,000 after acquiring an additional 10,932 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 79.9% in the third quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company's stock worth $8,947,000 after purchasing an additional 38,054 shares in the last quarter. Finally, Cantillon Capital Management LLC bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 3rd quarter valued at approximately $121,803,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other news, Director Chase Carey sold 83,536 shares of the firm's stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total value of $8,098,815.20. Following the transaction, the director owned 94,356 shares of the company's stock, valued at approximately $9,147,814.20. This trade represents a 46.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 0.3%

Shares of NASDAQ FWONK opened at $83.77 on Monday. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36. The business's 50 day moving average is $89.38 and its two-hundred day moving average is $95.76. The company has a market cap of $18.77 billion, a P/E ratio of 38.08, a P/E/G ratio of 12.04 and a beta of 0.44.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FWONK. JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $120.00 to $122.00 and gave the company an "overweight" rating in a report on Tuesday, December 2nd. Wells Fargo & Company upgraded Liberty Media Corporation - Liberty Formula One Series C from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $93.00 to $95.00 in a research report on Friday, February 27th. Sanford C. Bernstein upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $110.00 to $111.00 in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.56.

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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