Axiom Investment Management LLC Buys New Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Axiom Investment Management LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the 1st quarter, Holdings Channel.com reports. The firm purchased 6,000 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of 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 valued at $114,192,000 after purchasing an additional 841,729 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth $297,358,000. Braun Stacey Associates Inc. boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.3% during the first quarter. Braun Stacey Associates Inc. now owns 276,480 shares of the company’s stock valued at $23,506,000 after buying an additional 14,039 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 8.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,558 shares of the company’s stock worth $21,231,000 after buying an additional 17,102 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 1st quarter worth about $1,522,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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

In other news, Director Chase Carey sold 100,000 shares of the firm’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 transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C 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 transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information. 4.31% of the stock is currently owned by insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock opened at $98.13 on Friday. The stock has a market cap of $21.99 billion, a PE ratio of 45.01 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The stock has a fifty day moving average of $93.97 and a 200 day moving average of $89.83.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. As a group, sell-side analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FWONK shares. Sanford C. Bernstein upped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a research note on Tuesday. Guggenheim lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday. UBS Group decreased 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 for the company in a report on Wednesday, April 15th. Finally, Wells Fargo & Company increased their price objective 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 research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Liberty Media Corporation – Liberty Formula One Series C Company 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.