Envestnet Asset Management Inc. Sells 16,456 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Envestnet Asset Management Inc. decreased its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 393,881 shares of the company’s stock after selling 16,456 shares during the period. Envestnet Asset Management Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $41,141,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FWONK. Allspring Global Investments Holdings LLC raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 5.5% during the 3rd 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 period. Squarepoint Ops LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $1,255,000. S Bank Fund Management Ltd bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $347,000. Assenagon Asset Management S.A. raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 79.9% during 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 during the period. Finally, Cantillon Capital Management LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth $121,803,000. Institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 1.6%

NASDAQ FWONK opened at $85.73 on Wednesday. The company’s 50 day moving average is $92.04 and its 200-day moving average is $97.29. The firm has a market cap of $21.44 billion, a P/E ratio of 109.91 and a beta of 0.48. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $75.26 and a 12-month high of $109.36.

Insider Activity

In related news, Director Chase Carey sold 83,536 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several research firms have weighed in on FWONK. Wells Fargo & Company upped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Finally, Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $111.00 in a research note on Monday, January 12th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.20.

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.