Liberty Media Corporation – Liberty Formula One Series C $FWONK is Ruane Cunniff & Goldfarb L.P.’s 2nd Largest Position

Ruane Cunniff & Goldfarb L.P. lowered its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 2.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,357,168 shares of the company’s stock after selling 133,950 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C comprises about 7.6% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 2nd biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $455,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FWONK. Invesco Ltd. grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock valued at $52,701,000 after acquiring an additional 170,435 shares during the period. Cresset Asset Management LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $502,000. Daiwa Securities Group Inc. raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 20.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after acquiring an additional 6,285 shares during the period. Qube Research & Technologies Ltd bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth approximately $1,863,000. Finally, Squarepoint Ops LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $1,255,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

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

In other Liberty Media Corporation – Liberty Formula One Series C 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 value of $1,044,773.73. Following the sale, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 completion of the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FWONK shares. Bank of America upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective 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 report on Friday, May 8th. UBS Group lowered their target price 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 note on Wednesday, April 15th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Hold” and a consensus target price of $110.20.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 1.3%

Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $98.33 on Tuesday. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of 45.11 and a beta of 0.44. The business has a 50-day moving average price of $93.11 and a 200-day moving average price of $89.57. 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 posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 EPS for the current fiscal year.

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.