Public Employees Retirement System of Ohio Grows Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Public Employees Retirement System of Ohio grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 10.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 420,508 shares of the company’s stock after acquiring an additional 38,737 shares during the period. Public Employees Retirement System of Ohio’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $35,752,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FWONK. 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 valued at $114,192,000 after buying an additional 841,729 shares during the last quarter. Berkshire Hathaway Inc purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth approximately $297,358,000. Braun Stacey Associates Inc. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 5.3% in the 1st quarter. Braun Stacey Associates Inc. now owns 276,480 shares of the company’s stock worth $23,506,000 after acquiring an additional 14,039 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 8.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,558 shares of the company’s stock worth $21,231,000 after acquiring an additional 17,102 shares during the last quarter. Finally, Credit Industriel ET Commercial bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 1st quarter valued at approximately $1,522,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction on 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 directly owned 15,590 shares in the company, valued at $1,404,503.10. This trade represents a 42.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.31% of the stock is currently owned by insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.6%

FWONK opened at $97.05 on Friday. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 44.52 and a beta of 0.44. The firm has a 50 day moving average price of $92.96 and a 200-day moving average price of $89.62. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results 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 company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. As a group, analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group cut 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 research note on Wednesday, April 15th. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. 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. Wells Fargo & Company increased 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 research report on Friday, May 8th. Finally, Bank of America lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Hold” and an average price target of $110.20.

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.