Mirae Asset Global Investments Co. Ltd. Acquires Shares of 32,683 Liberty Media Corporation – Liberty Formula One Series C $FWONK

Mirae Asset Global Investments Co. Ltd. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,683 shares of the company’s stock, valued at approximately $3,414,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FWONK. Allspring Global Investments Holdings LLC boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 5.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company’s stock worth $20,871,000 after buying an additional 10,620 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $1,255,000. S Bank Fund Management Ltd purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $347,000. Assenagon Asset Management S.A. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 79.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company’s stock worth $8,947,000 after acquiring an additional 38,054 shares in the last quarter. Finally, Aviva PLC grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.4% during the 2nd quarter. Aviva PLC now owns 158,167 shares of the company’s stock valued at $16,528,000 after acquiring an additional 10,932 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 1.7%

FWONK stock opened at $85.50 on Tuesday. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $75.26 and a 12-month high of $109.36. The business’s 50-day moving average is $93.13 and its 200 day moving average is $98.03. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 109.62 and a beta of 0.48.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released 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 during the quarter, compared to analyst estimates of $1.05 billion. As a group, equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FWONK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on 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. Wells Fargo & Company upped their target price 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 note on Thursday, November 6th. Finally, Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and increased their target price for the company from $110.00 to $111.00 in a research report on Monday, January 12th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.20.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,200 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $91.89, for a total value of $1,029,168.00. Following the transaction, the insider directly owned 21,037 shares of the company’s stock, valued at approximately $1,933,089.93. This trade represents a 34.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Chase Carey sold 83,536 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 368,363 shares of company stock worth $36,650,423.

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.