HB Wealth Management LLC Has $612,000 Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

HB Wealth Management LLC reduced its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 51.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,193 shares of the company’s stock after selling 7,497 shares during the quarter. HB Wealth Management LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

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

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $96.13 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 44.10 and a beta of 0.44. The business’s fifty day moving average price is $91.28 and its two-hundred day moving average price is $89.52.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. Research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Wells Fargo & Company upped 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 research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Bank of America raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded 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. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.14.

Insider Activity

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.31% of the stock is owned by insiders.

About Liberty Media Corporation – Liberty Formula One Series C

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.