Munro Partners Takes $111.34 Million Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Munro Partners purchased a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,065,458 shares of the company’s stock, valued at approximately $111,340,000. Liberty Media Corporation – Liberty Formula One Series C accounts for about 3.5% of Munro Partners’ investment portfolio, making the stock its 8th biggest position.

Several other large investors also recently added to or reduced their stakes in FWONK. S Bank Fund Management Ltd purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at about $347,000. Aviva PLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.4% during the 2nd quarter. Aviva PLC now owns 158,167 shares of the company’s stock valued at $16,528,000 after purchasing an additional 10,932 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company’s stock valued at $400,694,000 after buying an additional 126,501 shares in the last quarter. Praxis Investment Management Inc. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 28.1% in the 2nd quarter. Praxis Investment Management Inc. now owns 12,640 shares of the company’s stock worth $1,321,000 after buying an additional 2,770 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 6.6% in the second quarter. JPMorgan Chase & Co. now owns 268,107 shares of the company’s stock worth $28,022,000 after buying an additional 16,672 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Insider Activity

In related news, insider Renee L. Wilm sold 11,200 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $91.89, for a total transaction of $1,029,168.00. Following the transaction, the insider owned 21,037 shares in the company, valued at $1,933,089.93. The trade was a 34.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chase Carey sold 81,006 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $102.89, for a total value of $8,334,707.34. Following the transaction, the director directly owned 93,102 shares of the company’s stock, valued at $9,579,264.78. The trade was a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 201,327 shares of company stock worth $20,553,143 over the last three months. 4.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FWONK has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 8th. JPMorgan Chase & Co. lifted their target price 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. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Wells Fargo & Company lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.2%

NASDAQ:FWONK opened at $93.77 on Friday. The firm has a market capitalization of $23.45 billion, a P/E ratio of 120.22 and a beta of 0.48. The company has a fifty day moving average of $98.05 and a 200 day moving average of $100.01. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $75.26 and a 52 week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

Liberty Media Corporation – Liberty Formula One Series C Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.