Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Purchased by Allstate Corp

Allstate Corp lifted its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 107.7% in the fourth quarter, HoldingsChannel reports. The fund owned 17,377 shares of the company’s stock after purchasing an additional 9,009 shares during the quarter. Allstate Corp’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FWONK. Invesco Ltd. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after acquiring an additional 170,435 shares during the period. Cresset Asset Management LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $502,000. Daiwa Securities Group Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after purchasing an additional 6,285 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $1,863,000. Finally, Squarepoint Ops LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $1,255,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In other news, Director Chase Carey sold 100,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FWONK shares. Wall Street Zen lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Wells Fargo & Company boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. UBS Group cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.67.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock opened at $91.06 on Friday. The firm’s 50 day moving average price is $88.02 and its two-hundred day moving average price is $90.28. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The firm has a market cap of $20.41 billion, a PE ratio of 41.77 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current fiscal year.

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.