AXQ Capital LP Takes $710,000 Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

AXQ Capital LP bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,209 shares of the company’s stock, valued at approximately $710,000.

Several other hedge funds have also modified their holdings of FWONK. Vanguard Group Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock valued at $2,081,841,000 after buying an additional 715,525 shares during the period. Principal Financial Group Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock valued at $1,250,671,000 after buying an additional 129,822 shares during the period. Schroder Investment Management Group raised its position in Liberty Media Corporation – Liberty Formula One Series C by 2.1% during the third quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock valued at $923,656,000 after buying an additional 186,077 shares during the period. Geode Capital Management LLC raised its position in Liberty Media Corporation – Liberty Formula One Series C by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,983,116 shares of the company’s stock valued at $391,290,000 after buying an additional 36,599 shares during the period. Finally, Bank of America Corp DE raised its position in Liberty Media Corporation – Liberty Formula One Series C by 3.8% during the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company’s stock valued at $278,594,000 after buying an additional 98,354 shares during the period. 92.26% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

FWONK opened at $89.32 on Wednesday. The stock has a 50-day moving average of $88.29 and a 200-day moving average of $90.13. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The company has a market cap of $20.02 billion, a PE ratio of 40.97 and a beta of 0.47.

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 for the quarter, beating the consensus estimate 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. On average, research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current year.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Formula One Series C 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 completion of the sale, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several research firms recently weighed in on FWONK. UBS Group dropped their price target on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. JPMorgan Chase & Co. dropped their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Weiss Ratings raised 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. Wells Fargo & Company upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.22.

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.