Liberty Media Corporation – Liberty Formula One Series C $FWONK Stock: State of Wyoming Decreases Holdings

State of Wyoming lowered its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 82.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 21.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 97,236 shares of the company’s stock worth $8,248,000 after acquiring an additional 17,405 shares during the period. Braun Stacey Associates Inc. grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.5% in the 2nd quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company’s stock valued at $29,860,000 after purchasing an additional 37,375 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock valued at $505,297,000 after purchasing an additional 645,996 shares during the period. Cooper Investors PTY Ltd. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 167.4% in the third quarter. Cooper Investors PTY Ltd. now owns 312,499 shares of the company’s stock valued at $28,875,000 after purchasing an additional 195,639 shares during the period. Finally, Junto Capital Management LP raised its stake in shares of 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 purchasing an additional 1,093,372 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Key Stories Impacting Liberty Media Corporation – Liberty Formula One Series C

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

Analyst Upgrades and Downgrades

FWONK has been the subject of several recent research reports. UBS Group increased 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. Sanford C. Bernstein boosted their price objective 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 research note on Tuesday, July 28th. Susquehanna dropped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating on the stock in a research note on Friday, October 16th. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 29th. Finally, Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.62.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $106.33 on Monday. The stock’s 50 day moving average is $94.54 and its two-hundred day moving average is $92.18. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $108.35. The firm has a market capitalization of $23.85 billion, a PE ratio of 122.22 and a beta of 0.46.

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 analysts’ consensus estimates of $0.24 by ($0.22). The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $952.78 million. On average, sell-side analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2.01 EPS for the current year.

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.