Sei Investments Co. Decreases Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Sei Investments Co. lessened its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 27.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 734,485 shares of the company’s stock after selling 284,048 shares during the quarter. Sei Investments Co.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $62,448,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after buying an additional 170,435 shares during the period. Cresset Asset Management LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $502,000. Daiwa Securities Group Inc. raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock valued at $3,902,000 after acquiring an additional 6,285 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $1,863,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $1,255,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK opened at $97.05 on Friday. The stock has a market cap of $21.75 billion, a P/E ratio of 44.52 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The stock’s 50 day moving average price is $92.96 and its 200 day moving average price is $89.62.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. Equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FWONK. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. UBS Group reduced their price objective on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Wells Fargo & Company upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $110.20.

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.