Bain Capital Public Equity Management II LLC Decreases Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Bain Capital Public Equity Management II LLC cut its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 89.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,592 shares of the company’s stock after selling 2,175,177 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C accounts for about 41.0% of Bain Capital Public Equity Management II LLC’s portfolio, making the stock its largest position. Bain Capital Public Equity Management II LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $25,474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Securities Inc. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.6% during the 4th quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock valued at $466,000 after purchasing an additional 118 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company’s stock valued at $552,000 after purchasing an additional 119 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after purchasing an additional 120 shares during the last quarter. Compound Planning Inc. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 6.1% during the 3rd quarter. Compound Planning Inc. now owns 2,094 shares of the company’s stock valued at $219,000 after purchasing an additional 121 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.4% during the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock valued at $1,016,000 after purchasing an additional 141 shares during the last quarter. 92.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FWONK. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. UBS Group decreased their price target 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 report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. 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 report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.75.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In other news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the sale, the director directly owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

NASDAQ:FWONK opened at $90.04 on Tuesday. The firm’s fifty day moving average is $89.21 and its 200-day moving average is $89.54. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The firm has a market cap of $20.18 billion, a P/E ratio of 41.30 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. As a group, sell-side analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current 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.