Liberty Media Corporation – Liberty Formula One Series C $FWONK Stock Holdings Lessened by Ashe Capital Management LP

Ashe Capital Management LP lowered its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 28.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,891,024 shares of the company’s stock after selling 740,024 shares during the period. Liberty Media Corporation – Liberty Formula One Series C makes up about 18.1% of Ashe Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Ashe Capital Management LP’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $186,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of 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 during the last quarter. Banco Santander S.A. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $1,685,000. JPMorgan Chase & Co. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock worth $37,375,000 after buying an additional 89,673 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock worth $2,132,636,000 after buying an additional 117,804 shares during the last quarter. Finally, ShawSpring Partners LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $22,720,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 0.8%

FWONK stock opened at $90.35 on Thursday. The firm has a 50 day moving average of $89.32 and a 200-day moving average of $89.46. 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 company has a market cap of $20.25 billion, a price-to-earnings ratio of 41.45 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

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

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred 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 transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $9,028,000.00. Following the transaction, the director owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FWONK. JPMorgan Chase & Co. lowered their price target 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. 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 company an “equal weight” rating in a report on Friday, May 8th. 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. 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. Finally, UBS Group lowered 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. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.