2,175 Shares in Liberty Media Corporation – Liberty Formula One Series C $FWONK Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,175 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently modified their holdings of FWONK. Praxis Investment Management Inc. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 10.7% during the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company’s stock worth $888,000 after purchasing an additional 950 shares during the period. GW&K Investment Management LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the first quarter worth $25,000. HighPoint Advisor Group LLC lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 22.3% during the first quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company’s stock worth $382,000 after purchasing an additional 779 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 22.7% during the first quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company’s stock worth $11,570,000 after purchasing an additional 23,809 shares during the period. Finally, Allstate Corp lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.8% during the first quarter. Allstate Corp now owns 8,253 shares of the company’s stock worth $743,000 after purchasing an additional 2,087 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 Trading Down 1.7%

Shares of FWONK stock opened at $104.89 on Friday. The firm has a 50-day moving average price of $101.43 and a 200 day moving average price of $97.13. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 102.83 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.71. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on FWONK. UBS Group raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $98.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Saturday, September 27th. Zacks Research downgraded Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Bank of America began coverage on Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, August 4th. They issued a “neutral” rating and a $110.00 target price for the company. Finally, Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.22.

Insiders Place Their Bets

In related news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 5,651 shares of company stock valued at $572,250. Insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.