Thornburg Investment Management Inc. Sells 15,599 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Thornburg Investment Management Inc. cut its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 30.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 35,956 shares of the company’s stock after selling 15,599 shares during the period. Thornburg Investment Management Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $3,542,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FWONK. Invesco Ltd. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after purchasing an additional 170,435 shares during the last quarter. Cresset Asset Management LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $502,000. Daiwa Securities Group Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after purchasing an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $1,863,000. Finally, Squarepoint Ops LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $1,255,000. 92.26% of the stock is owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ:FWONK opened at $90.04 on Tuesday. The firm’s 50-day moving average price is $89.21 and its 200-day moving average price is $89.54. The company has a market capitalization of $20.18 billion, a PE ratio of 41.30 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. Equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FWONK. Wells Fargo & Company upped their price target 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 report on Friday, May 8th. Weiss Ratings upgraded shares of 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. Wall Street Zen upgraded 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. UBS Group lowered their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.75.

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

In related news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the transaction, the director owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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.