CI Investments Inc. Has $64.61 Million Stock Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

CI Investments Inc. trimmed its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 11.9% during the first quarter, Holdings Channel reports. The institutional investor owned 759,977 shares of the company’s stock after selling 102,284 shares during the quarter. CI Investments Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $64,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FWONK. First Trust Advisors LP raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 12.1% during the first quarter. First Trust Advisors LP now owns 72,550 shares of the company’s stock worth $6,168,000 after acquiring an additional 7,806 shares during the last quarter. ABN Amro Investment Solutions bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at about $601,000. PNC Financial Services Group Inc. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 12.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,186 shares of the company’s stock valued at $781,000 after acquiring an additional 1,032 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at about $58,000. Finally, Madison Asset Management LLC increased its position in Liberty Media Corporation – Liberty Formula One Series C by 19.9% in the first quarter. Madison Asset Management LLC now owns 1,070,299 shares of the company’s stock worth $90,997,000 after purchasing an additional 177,513 shares during the period. 92.26% of the stock is owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.3%

Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $97.92 on Wednesday. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The business has a fifty day simple moving average of $92.60 and a 200 day simple moving average of $89.59. The stock has a market cap of $21.94 billion, a PE ratio of 44.92 and a beta of 0.44.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in 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 report on Friday, May 1st. Bank of America raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, UBS Group cut their price objective on shares of 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. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $110.20.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value 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 represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

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.