The Manufacturers Life Insurance Company Grows Stock Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

The Manufacturers Life Insurance Company lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 13.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,311,086 shares of the company’s stock after buying an additional 645,996 shares during the period. The Manufacturers Life Insurance Company’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $505,297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Principal Securities Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock worth $466,000 after acquiring an additional 118 shares during the period. Blair William & Co. IL increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.7% in the 4th quarter. Blair William & Co. IL now owns 5,175 shares of the company’s stock worth $510,000 after purchasing an additional 135 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 1.4% in the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock worth $1,016,000 after purchasing an additional 141 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 6.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,616 shares of the company’s stock worth $258,000 after purchasing an additional 152 shares during the period. Finally, Vident Advisory LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 3.0% during the fourth quarter. Vident Advisory LLC now owns 5,455 shares of the company’s stock valued at $537,000 after purchasing an additional 161 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FWONK shares. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Jefferies Financial Group assumed coverage on Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday. They set a “buy” rating and a $115.00 price objective on the stock. Bank of America boosted their price objective on 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. increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.57.

Insider Activity

In other news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the sale, the insider owned 15,590 shares in the company, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.31% of the stock is currently owned by insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.4%

NASDAQ FWONK opened at $95.44 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The business has a 50-day moving average price of $99.78 and a 200-day moving average price of $92.44. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 140.35 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. Research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 2 EPS for the current fiscal year.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Group, represented by the Series C Liberty Formula One common stock (NASDAQ: FWONK), is a tracking-stock group tied primarily to the company’s interests in Formula 1. The group’s principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.