HighTower Advisors LLC Decreases Stock Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

HighTower Advisors LLC lowered its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 98.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,216 shares of the company’s stock after selling 1,335,053 shares during the quarter. HighTower Advisors LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $1,485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.7% during the third quarter. Yousif Capital Management LLC now owns 2,741 shares of the company’s stock worth $286,000 after purchasing an additional 124 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 24.7% in the 2nd quarter. Loomis Sayles & Co. L P now owns 852 shares of the company’s stock worth $89,000 after buying an additional 169 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 22.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 941 shares of the company’s stock worth $98,000 after buying an additional 172 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 8.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,293 shares of the company’s stock worth $240,000 after buying an additional 188 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.8% during the second quarter. Captrust Financial Advisors now owns 3,492 shares of the company’s stock valued at $365,000 after acquiring an additional 191 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 5.8%

FWONK stock opened at $91.59 on Monday. The stock has a market cap of $22.90 billion, a P/E ratio of 41.63 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36. The company’s 50 day moving average is $90.41 and its two-hundred day moving average is $96.25.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FWONK. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. JPMorgan Chase & Co. lifted 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 note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Finally, Wells Fargo & Company raised Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $93.00 to $95.00 in a research note on Friday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.56.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 83,536 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20. Following the transaction, the director directly owned 94,356 shares in the company, 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 SEC, which can be accessed through this hyperlink.

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.