Diamond Hill Capital Management Inc. Lowers Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Diamond Hill Capital Management Inc. reduced its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 9.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 344,689 shares of the company’s stock after selling 37,104 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $33,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $39,000. Root Financial Partners LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $41,000. Finally, FNY Investment Advisers LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $48,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FWONK shares. Weiss Ratings raised Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Wells Fargo & Company raised their target price on 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 decreased their target price on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Finally, Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.67.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

FWONK stock opened at $89.20 on Friday. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 40.92 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36. The stock has a fifty day moving average of $87.59 and a 200-day moving average of $90.68.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. Equities analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current 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.