Totem Point Management LLC Purchases New Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Totem Point Management LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the fourth quarter, HoldingsChannel reports. The firm purchased 5,789 shares of the company’s stock, valued at approximately $570,000. Liberty Media Corporation – Liberty Formula One Series C comprises 0.6% of Totem Point Management LLC’s investment portfolio, making the stock its 14th largest position.

A number of other large investors have also added to or reduced their stakes in FWONK. Norges Bank bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $195,762,000. Franklin Resources Inc. grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in 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 in the last quarter. Vanguard Group Inc. grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $69,318,000. Finally, Hawk Ridge Capital Management LP acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $63,244,000. Institutional investors own 92.26% of the company’s stock.

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

In other news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.5%

Liberty Media Corporation – Liberty Formula One Series C stock opened at $89.63 on Wednesday. The company has a market capitalization of $20.09 billion, a PE ratio of 41.11 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The stock has a 50-day moving average price of $89.24 and a two-hundred day moving average price of $89.50.

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased 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. Wall Street Zen raised 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 reduced their target price 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. Wells Fargo & Company increased 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 report on Friday, May 8th. Finally, Weiss Ratings raised 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 investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.75.

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.