Liberty Media Corporation – Liberty Formula One Series C $FWONK Stake Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 800.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 747,954 shares of the company’s stock after acquiring an additional 664,868 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $63,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after acquiring an additional 841,729 shares during the period. Banco Santander S.A. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at about $1,685,000. JPMorgan Chase & Co. boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock valued at $37,375,000 after purchasing an additional 89,673 shares in the last quarter. ShawSpring Partners LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at about $22,720,000. Finally, Berkshire Hathaway Inc acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth approximately $297,358,000. Institutional investors own 92.26% of the company’s stock.

Insider Activity

In other news, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the transaction, the insider owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.5%

FWONK opened at $90.45 on Friday. The firm has a market capitalization of $20.27 billion, a P/E ratio of 41.49 and a beta of 0.47. The stock has a fifty day moving average of $89.46 and a 200-day moving average of $89.31. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36.

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, beating the consensus estimate of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. On average, analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FWONK. Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock 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 research report on Saturday, June 6th. JPMorgan Chase & Co. dropped their price target 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 cut their price objective 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. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has an average rating of “Hold” and a consensus price target of $110.43.

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.