First Trust Advisors LP Lowers Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

First Trust Advisors LP trimmed its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 35.7% during the second quarter, HoldingsChannel reports. The fund owned 228,160 shares of the company’s stock after selling 126,650 shares during the quarter. First Trust Advisors LP’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $23,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $46,000. Assetmark Inc. grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 199.4% during the second quarter. Assetmark Inc. now owns 500 shares of the company’s stock worth $52,000 after acquiring an additional 333 shares during the period. Allianz Asset Management GmbH raised its position in Liberty Media Corporation – Liberty Formula One Series C by 144.9% in the second quarter. Allianz Asset Management GmbH now owns 769 shares of the company’s stock worth $80,000 after acquiring an additional 455 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Liberty Media Corporation – Liberty Formula One Series C by 24.7% in the second quarter. Loomis Sayles & Co. L P now owns 852 shares of the company’s stock worth $89,000 after acquiring an additional 169 shares in 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 FWONK opened at $92.30 on Thursday. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $75.26 and a 1-year high of $109.36. The stock has a market cap of $23.08 billion, a price-to-earnings ratio of 118.33 and a beta of 0.48. The firm has a 50 day simple moving average of $98.48 and a 200-day simple moving average of $100.06.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18). The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. On average, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FWONK has been the topic of a number of recent analyst reports. Zacks Research cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Wells Fargo & Company increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted 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 research report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.33.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 81,006 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $102.89, for a total value of $8,334,707.34. Following the transaction, the director directly owned 93,102 shares in the company, valued at approximately $9,579,264.78. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Renee L. Wilm sold 11,200 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $91.89, for a total transaction of $1,029,168.00. Following the sale, the insider owned 21,037 shares of the company’s stock, valued at approximately $1,933,089.93. This trade represents a 34.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 201,327 shares of company stock worth $20,553,143. Corporate insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.