ShawSpring Partners LLC Invests $22.72 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

ShawSpring Partners LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the third quarter, HoldingsChannel.com reports. The firm bought 217,523 shares of the company’s stock, valued at approximately $22,720,000. Liberty Media Corporation – Liberty Formula One Series C makes up about 3.4% of ShawSpring Partners LLC’s holdings, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $208,588,000. Cantillon Capital Management LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at $121,803,000. Munro Partners bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $111,340,000. Schroder Investment Management Group raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 4.9% during the 2nd quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company’s stock valued at $904,653,000 after purchasing an additional 402,705 shares during the period. Finally, CI Investments Inc. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 44.3% in the 3rd quarter. CI Investments Inc. now owns 859,994 shares of the company’s stock valued at $89,826,000 after acquiring an additional 264,075 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company raised Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $93.00 to $95.00 in a report on Friday, February 27th. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $110.00 to $111.00 in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price 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 report on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and an average price target of $112.56.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.1%

NASDAQ FWONK opened at $85.19 on Friday. The stock has a market cap of $19.09 billion, a P/E ratio of 38.72, a P/E/G ratio of 12.11 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36. The stock’s fifty day moving average price is $88.32 and its 200-day moving average price is $95.38.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 83,536 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director directly owned 94,356 shares in the company, valued at approximately $9,147,814.20. The trade was a 46.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.31% of the stock is owned by company 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.