Jain Global LLC Buys 412,557 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Jain Global LLC lifted its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 6,361.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 419,042 shares of the company’s stock after purchasing an additional 412,557 shares during the period. Liberty Media Corporation – Liberty Formula One Series C accounts for 0.2% of Jain Global LLC’s portfolio, making the stock its 27th largest position. Jain Global LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $43,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $38,000. Osterweis Capital Management Inc. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $39,000. Root Financial Partners LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth $41,000. Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 262 shares during the period. Finally, SJS Investment Consulting Inc. lifted 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 acquiring an additional 469 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.8%

FWONK stock opened at $83.66 on Monday. The business’s fifty day moving average is $88.03 and its 200-day moving average is $95.17. The company has a market cap of $18.75 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 12.03 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FWONK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Wells Fargo & Company upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $93.00 to $95.00 in a research report on Friday, February 27th. Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their target price for the company from $110.00 to $111.00 in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of 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 investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.56.

Insider Buying and Selling

In related 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 completion of the sale, the director owned 94,356 shares in the company, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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.