Liberty Media Corporation – Liberty Formula One Series C $FWONK Stock Sold by State of Wyoming

State of Wyoming lessened its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 82.9% in the third quarter, HoldingsChannel.com reports. The firm owned 2,072 shares of the company’s stock after selling 10,065 shares during the quarter. State of Wyoming’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $191,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after purchasing an additional 302,191 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after buying an additional 645,996 shares in the last quarter. Bank of America Corp DE boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after buying an additional 1,376,984 shares in the last quarter. Junto Capital Management LP boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 178.1% during the second quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock worth $162,431,000 after buying an additional 1,093,372 shares in the last quarter. Finally, Hawk Ridge Capital Management LP grew its position in Liberty Media Corporation – Liberty Formula One Series C by 38.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,849,660 shares of the company’s stock worth $157,258,000 after buying an additional 518,300 shares during the period. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $106.33 on Monday. The stock has a market cap of $23.85 billion, a P/E ratio of 122.22 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $108.35. The business has a fifty day simple moving average of $94.54 and a 200-day simple moving average of $92.18.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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. On average, sell-side analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 2.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FWONK shares. Sanford C. Bernstein increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group assumed coverage on Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, September 9th. They set a “buy” rating and a $115.00 price target on the stock. UBS Group upped their price target on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.62.

Liberty Media Corporation – Liberty Formula One Series C News Summary

Here are the key news stories impacting Liberty Media Corporation – Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.