MAI Capital Management Trims Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

MAI Capital Management reduced its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 43.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,833 shares of the company’s stock after selling 39,342 shares during the period. MAI Capital Management’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $5,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $208,588,000. Cantillon Capital Management LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at about $121,803,000. Munro Partners acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $111,340,000. Schroder Investment Management Group boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.9% in the second quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company’s stock worth $904,653,000 after buying an additional 402,705 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2,625.1% during the second quarter. Balyasny Asset Management L.P. now owns 220,733 shares of the company’s stock worth $23,067,000 after acquiring an additional 212,633 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Insider Transactions at Liberty Media Corporation – Liberty Formula One Series C

In related news, Director Chase Carey sold 83,536 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total value of $8,098,815.20. Following the completion of the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. The trade was a 46.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FWONK. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $110.00 to $111.00 in a research note on Monday, January 12th. Finally, Wells Fargo & Company increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 3.1%

Shares of FWONK opened at $86.54 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36. The stock’s 50 day moving average is $90.52 and its two-hundred day moving average is $96.31. The firm has a market cap of $21.64 billion, a P/E ratio of 110.95 and a beta of 0.48.

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.