Bamco Inc. NY Trims Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Bamco Inc. NY lessened its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 10.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 900,000 shares of the company’s stock after selling 100,000 shares during the period. Bamco Inc. NY’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $94,005,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FWONK. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $39,000. Root Financial Partners LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at approximately $41,000. Farther Finance Advisors LLC boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 138.6% during the third quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock valued at $47,000 after buying an additional 262 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 2,605.6% during the third quarter. SJS Investment Consulting Inc. now owns 487 shares of the company’s stock valued at $51,000 after buying an additional 469 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Chase Carey sold 83,536 shares of the stock in a transaction that occurred on 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 owned 94,356 shares of the company’s stock, valued at $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.31% of the company’s stock.

Analysts Set New Price Targets

FWONK has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $110.00 to $111.00 in a research report on Monday, January 12th. Wells Fargo & Company upgraded Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $93.00 to $95.00 in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $112.56.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $83.66 on Friday. The company has a market capitalization of $18.75 billion, a P/E ratio of 38.03, a P/E/G ratio of 12.03 and a beta of 0.44. The company’s 50-day simple moving average is $88.03 and its two-hundred day simple moving average is $95.20. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $75.26 and a one year high of $109.36.

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.