Franklin Resources Inc. Buys 841,729 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Franklin Resources Inc. raised its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 265.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,159,292 shares of the company’s stock after acquiring an additional 841,729 shares during the period. Franklin Resources Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $114,192,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at $34,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $39,000. FNY Investment Advisers LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at $48,000. Finally, Farther Finance Advisors LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after acquiring an additional 120 shares during the period. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $88.61 on Thursday. The stock’s fifty day moving average is $88.98 and its 200-day moving average is $89.62. The stock has a market capitalization of $19.86 billion, a PE ratio of 40.65 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36.

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, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. As a group, analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction on 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 transaction, the director owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FWONK. Wells Fargo & Company upped their price target 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. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings upgraded 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. JPMorgan Chase & Co. decreased their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, 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 on the stock in a report on Wednesday, April 15th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.75.

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.