Liberty Media Corporation – Liberty Formula One Series C $FWONK Stock Holdings Lowered by Ruane Cunniff & Goldfarb L.P.

Ruane Cunniff & Goldfarb L.P. reduced its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,491,118 shares of the company’s stock after selling 77,871 shares during the period. Liberty Media Corporation – Liberty Formula One Series C makes up 8.4% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 3rd biggest holding. Ruane Cunniff & Goldfarb L.P.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $540,930,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after buying an additional 841,729 shares during the period. Banco Santander S.A. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at about $1,685,000. JPMorgan Chase & Co. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock valued at $37,375,000 after buying an additional 89,673 shares during the period. Vanguard Group Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock valued at $2,132,636,000 after buying an additional 117,804 shares during the period. Finally, ShawSpring Partners LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at about $22,720,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FWONK has been the topic of several analyst reports. 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. 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. UBS Group dropped their price objective 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 report on Wednesday, April 15th. JPMorgan Chase & Co. dropped their price objective 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 report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price objective 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 report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.75.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.6%

FWONK stock opened at $88.93 on Friday. 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 stock’s 50 day moving average is $89.16 and its two-hundred day moving average is $89.59. The company has a market capitalization of $19.93 billion, a PE ratio of 40.79 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (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 analysts’ expectations of $683.42 million. As a group, sell-side analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.31% of the stock is owned by corporate insiders.

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.