Concentric Capital Strategies LP Invests $5.73 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Concentric Capital Strategies LP purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 58,200 shares of the company’s stock, valued at approximately $5,733,000.

A number of other large investors have also added to or reduced their stakes in FWONK. Franklin Resources Inc. lifted its stake in shares of 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 acquiring an additional 841,729 shares during the last quarter. Banco Santander S.A. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth $1,685,000. JPMorgan Chase & Co. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock worth $37,375,000 after purchasing an additional 89,673 shares in the last quarter. Vanguard Group Inc. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock worth $2,132,636,000 after purchasing an additional 117,804 shares in the last quarter. Finally, ShawSpring Partners LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at about $22,720,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK opened at $90.35 on Thursday. The stock has a market capitalization of $20.25 billion, a P/E ratio of 41.45 and a beta of 0.47. 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 company has a 50-day moving average price of $89.32 and a 200-day moving average price of $89.46.

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, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. As a group, equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Wednesday, May 27th. The shares were 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 SEC filing for this sale provides additional information. Corporate insiders own 4.31% of the company’s stock.

Analysts Set New Price Targets

FWONK has been the subject of several analyst reports. Wells Fargo & Company raised 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. 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. UBS Group reduced 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. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. cut 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 research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and an average price target of $111.75.

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.