Rakuten Investment Management Inc. Invests $7.58 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Rakuten Investment Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,537 shares of the company’s stock, valued at approximately $7,576,000.

Several other hedge funds have also added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at about $38,000. Osterweis Capital Management Inc. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $39,000. Root Financial Partners LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at about $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth approximately $46,000. Finally, Farther Finance Advisors LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 138.6% during the third quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock worth $47,000 after acquiring an additional 262 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

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

In related news, insider Renee L. Wilm sold 11,200 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $91.89, for a total transaction of $1,029,168.00. Following the completion of the transaction, the insider directly owned 21,037 shares in the company, valued at $1,933,089.93. This represents a 34.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chase Carey sold 83,536 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the completion of the transaction, the director directly owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. The trade was a 46.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 368,363 shares of company stock worth $36,650,423 over the last ninety days. 4.31% of the stock is currently owned by insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock opened at $89.50 on Thursday. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $75.26 and a 52 week high of $109.36. The stock has a market capitalization of $22.38 billion, a P/E ratio of 114.75 and a beta of 0.47. The stock has a fifty day moving average of $94.48 and a 200-day moving average of $98.88.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data 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 company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. On average, research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FWONK. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their price target for the company from $110.00 to $111.00 in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and an average price target of $112.20.

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.