Fifth Third Bancorp Boosts Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Fifth Third Bancorp grew its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 2,037.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 13,917 shares of the company’s stock after acquiring an additional 13,266 shares during the quarter. Fifth Third Bancorp’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $1,183,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Silver Point Capital L.P. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at approximately $302,000. Berkshire Hathaway Inc purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at about $297,358,000. Naya Capital Management UK Ltd. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at about $208,238,000. Norges Bank acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $195,762,000. Finally, Franklin Resources Inc. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after buying an additional 841,729 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock opened at $97.05 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The firm’s 50-day moving average is $92.96 and its 200-day moving average is $89.62. The company has a market cap of $21.75 billion, a P/E ratio of 44.52 and a beta of 0.44.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on FWONK. JPMorgan Chase & Co. upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Bank of America upped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. UBS Group lowered 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 for the company in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Hold” and a consensus price target of $110.20.

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.