ShawSpring Partners LLC Invests $22.72 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

ShawSpring Partners LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 217,523 shares of the company’s stock, valued at approximately $22,720,000. Liberty Media Corporation – Liberty Formula One Series C accounts for approximately 3.4% of ShawSpring Partners LLC’s investment portfolio, making the stock its 11th biggest holding. ShawSpring Partners LLC owned 0.10% of Liberty Media Corporation – Liberty Formula One Series C as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $38,000. Osterweis Capital Management Inc. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $39,000. Root Financial Partners LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at about $41,000. Farther Finance Advisors LLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 138.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock worth $47,000 after purchasing an additional 262 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2,605.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 487 shares of the company’s stock valued at $51,000 after purchasing an additional 469 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.1%

FWONK opened at $85.19 on Friday. The company has a market cap of $19.09 billion, a P/E ratio of 38.72, a price-to-earnings-growth ratio of 12.11 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $75.26 and a 1-year high of $109.36. The company has a fifty day moving average price of $88.32 and a two-hundred day moving average price of $95.38.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FWONK. JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. 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 stock from $110.00 to $111.00 in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 29th. Finally, Wells Fargo & Company upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $93.00 to $95.00 in a research note on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.56.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other news, Director Chase Carey sold 83,536 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the completion of the transaction, the director directly owned 94,356 shares in the company, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.31% of the stock is owned by insiders.

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.