Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,396 shares of the company’s stock after acquiring an additional 13,887 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Liberty Media Corporation – Liberty Formula One Series C worth $19,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of FWONK. GW&K Investment Management LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 1st quarter worth $25,000. HighPoint Advisor Group LLC grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 22.3% during the first quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company’s stock worth $382,000 after buying an additional 779 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 22.7% during the first quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company’s stock worth $11,570,000 after buying an additional 23,809 shares in the last quarter. Allstate Corp increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.8% during the first quarter. Allstate Corp now owns 8,253 shares of the company’s stock worth $743,000 after buying an additional 2,087 shares during the period. Finally, Strs Ohio acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at approximately $2,370,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $102.00 on Wednesday. The stock has a market capitalization of $22.81 billion, a P/E ratio of 130.77 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36. The company’s fifty day moving average is $101.46 and its two-hundred day moving average is $99.95.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.18). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. Sell-side analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the transaction, the director owned 1,781 shares of the company’s stock, valued at $178,456.20. This represents a 33.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 11,200 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $91.89, for a total value of $1,029,168.00. Following the completion of the transaction, the insider owned 21,037 shares of the company’s stock, valued at $1,933,089.93. The trade was a 34.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,851 shares of company stock worth $1,601,418 in the last ninety days.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America began coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, August 4th. They set a “neutral” rating and a $110.00 price target for the company. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. The Goldman Sachs Group restated a “buy” rating and issued a $120.00 price target on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Tuesday, July 22nd. Wells Fargo & Company upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, UBS Group increased their price objective on Liberty Media Corporation – Liberty Formula One Series C from $98.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.11.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.