Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC cut its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 8.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 892,786 shares of the company’s stock after selling 77,693 shares during the period. Madison Asset Management LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $87,948,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth approximately $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $39,000. Root Financial Partners LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at $41,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $48,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on FWONK. JPMorgan Chase & Co. cut their price target on Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Weiss Ratings upgraded shares of 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. 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. Wells Fargo & Company increased their target price on shares of 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 note on Friday, May 8th. Finally, Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 2.2%

FWONK opened at $90.69 on Wednesday. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 15.30 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 business has a 50 day moving average of $86.99 and a 200-day moving average of $90.99.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. As a group, analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.86 earnings per share for the current year.

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.