Delta Global Management LP Acquires New Shares in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Delta Global Management LP acquired a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,180 shares of the company’s stock, valued at approximately $2,396,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock valued at $2,081,841,000 after purchasing an additional 715,525 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock worth $1,250,671,000 after purchasing an additional 129,822 shares during the period. Silver Point Capital L.P. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth about $302,000. Jericho Capital Asset Management L.P. increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 17.8% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company’s stock worth $447,471,000 after purchasing an additional 688,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,983,116 shares of the company’s stock valued at $391,290,000 after buying an additional 36,599 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Bank of America boosted their price target on shares of 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. JPMorgan Chase & Co. upped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $110.20.

Insiders Place Their Bets

In related news, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the transaction, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction 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 transaction, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.31% of the stock is currently owned by company insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

FWONK stock opened at $97.05 on Friday. The company’s 50 day moving average price is $92.96 and its 200 day moving average price is $89.62. 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. The firm has a market capitalization of $21.75 billion, a price-to-earnings ratio of 44.52 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. Equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

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.