Thornburg Investment Management Inc. Cuts Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Thornburg Investment Management Inc. lowered its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,555 shares of the company’s stock after selling 6,369 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $5,385,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $38,000. Osterweis Capital Management Inc. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $39,000. Root Financial Partners LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $41,000. Farther Finance Advisors LLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 138.6% in the third quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock worth $47,000 after buying an additional 262 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in Liberty Media Corporation – Liberty Formula One Series C by 2,605.6% during the third quarter. SJS Investment Consulting Inc. now owns 487 shares of the company’s stock valued at $51,000 after acquiring an additional 469 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

FWONK has been the subject of a number of recent research reports. 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 price objective for the stock from $110.00 to $111.00 in a report on Monday, January 12th. JPMorgan Chase & Co. lifted their target price 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 report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price objective on 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 investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.20.

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

In related news, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20. Following the sale, the director directly owned 94,356 shares of the company’s stock, valued at $9,147,814.20. This trade represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.31% of the company’s stock.

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

Shares of FWONK opened at $86.54 on Friday. The stock has a market capitalization 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 has a twelve month low of $75.26 and a twelve month high of $109.36. The firm has a fifty day simple moving average of $90.52 and a two-hundred day simple moving average of $96.31.

Liberty Media Corporation – Liberty Formula One Series C 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.