Resona Asset Management Co. Ltd. Purchases 17,405 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Resona Asset Management Co. Ltd. raised its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 21.8% in the first quarter, HoldingsChannel reports. The fund owned 97,236 shares of the company’s stock after purchasing an additional 17,405 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $8,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation National Association UT raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after purchasing an additional 188 shares during the period. Advisory Services Network LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at $34,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $38,000. Osterweis Capital Management Inc. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after buying an additional 175 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

Insider Activity

In related news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction dated Monday, June 15th. The shares were 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 owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This trade represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of 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. UBS Group dropped their price target on shares of 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. JPMorgan Chase & Co. cut their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Finally, Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.14.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK traded up $0.22 during trading on Friday, hitting $96.13. The stock had a trading volume of 1,483,710 shares, compared to its average volume of 2,060,985. 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 capitalization of $21.54 billion, a PE ratio of 44.10 and a beta of 0.44. The firm has a fifty day moving average of $91.28 and a two-hundred day moving average of $89.52.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced 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 analysts’ expectations of $683.42 million. On average, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Liberty Media Corporation – Liberty Formula One Series C 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.