Edgestream Partners L.P. Trims Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Edgestream Partners L.P. cut its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 72.9% in the first quarter, HoldingsChannel reports. The firm owned 13,452 shares of the company’s stock after selling 36,125 shares during the period. Edgestream Partners L.P.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $1,144,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after buying an additional 188 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at about $34,000. Headlands Technologies LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at about $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after acquiring an additional 175 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK opened at $97.74 on Tuesday. The stock has a market capitalization of $21.90 billion, a P/E ratio of 44.84 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36. The business has a fifty day moving average price of $94.15 and a 200 day moving average price of $89.88.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. As a group, equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the transaction, the director owned 94,356 shares of the company’s stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Renee L. Wilm sold 11,597 shares of the business’s 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 transaction, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

A number of research firms have commented on FWONK. Guggenheim raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. UBS Group dropped their price objective on shares of 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. Bank of America increased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.