Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Sold by Darsana Capital Partners LP

Darsana Capital Partners LP trimmed its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 16.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,300,000 shares of the company’s stock after selling 850,000 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C accounts for 1.8% of Darsana Capital Partners LP’s portfolio, making the stock its 7th largest holding. Darsana Capital Partners LP’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $409,102,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after buying an additional 170,435 shares during the last quarter. Cresset Asset Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $502,000. Daiwa Securities Group Inc. boosted 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 valued at $3,902,000 after acquiring an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $1,863,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $1,255,000. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $96.80 on Thursday. The stock has a market capitalization of $21.72 billion, a P/E ratio of 142.35 and a beta of 0.43. The business has a 50-day moving average of $99.85 and a 200-day moving average of $92.41. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $952.78 million. Equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 2 EPS for the current year.

Analyst Ratings Changes

FWONK has been the topic of a number of analyst reports. Bank of America increased their price target on 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. Wells Fargo & Company upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Jefferies Financial Group initiated coverage on Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday. They set a “buy” rating and a $115.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and an average target price of $117.57.

Insiders Place Their Bets

In other news, 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 stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.31% of the stock is currently owned by company insiders.

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Group, represented by the Series C Liberty Formula One common stock (NASDAQ: FWONK), is a tracking-stock group tied primarily to the company’s interests in Formula 1. The group’s principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.