Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 3.7% during the 3rd quarter, Holdings Channel reports. The fund owned 154,364 shares of the company’s stock after purchasing an additional 5,492 shares during the period. Citigroup Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $16,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in FWONK. Norges Bank acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $208,588,000. Cantillon Capital Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at about $121,803,000. Munro Partners bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $111,340,000. Schroder Investment Management Group increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 4.9% during the 2nd quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company’s stock valued at $904,653,000 after buying an additional 402,705 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 2,625.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 220,733 shares of the company’s stock worth $23,067,000 after buying an additional 212,633 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

FWONK has been the subject of a number of research analyst reports. Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Wells Fargo & Company raised Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $93.00 to $95.00 in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $112.56.

Insider Activity

In other news, Director Chase Carey sold 83,536 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director directly owned 94,356 shares of the company’s stock, valued at $9,147,814.20. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.31% of the stock is owned by insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock opened at $91.59 on Friday. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 41.63 and a beta of 0.48. 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 firm’s 50 day moving average price is $90.41 and its two-hundred day moving average price is $96.28.

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.