Thornburg Investment Management Inc. Reduces Stake 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% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,555 shares of the company’s stock after selling 6,369 shares during the period. 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.

Several other institutional investors have also bought and sold shares of FWONK. Allspring Global Investments Holdings LLC lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company’s stock valued at $20,871,000 after buying an additional 10,620 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $1,255,000. Aviva PLC lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 7.4% during the second quarter. Aviva PLC now owns 158,167 shares of the company’s stock valued at $16,528,000 after purchasing an additional 10,932 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 79.9% during the third quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company’s stock valued at $8,947,000 after purchasing an additional 38,054 shares during the last quarter. Finally, Cantillon Capital Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $121,803,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $86.54 on Friday. The company’s 50 day simple moving average is $90.52 and its two-hundred day simple moving average is $96.31. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36. The stock has a market capitalization of $21.64 billion, a PE ratio of 110.95 and a beta of 0.48.

Wall Street Analyst Weigh In

FWONK has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $110.00 to $111.00 in a report on Monday, January 12th. Wells Fargo & Company increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Seven equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.20.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 83,536 shares of the company’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 transaction, the director directly owned 94,356 shares in the company, valued at $9,147,814.20. This represents a 46.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.31% of the stock is currently owned by insiders.

Liberty Media Corporation – Liberty Formula One Series C Company 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.