Hsbc Holdings PLC Cuts Stock Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Hsbc Holdings PLC reduced its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 39.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 444,389 shares of the company’s stock after selling 292,698 shares during the quarter. Hsbc Holdings PLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $43,775,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock valued at $2,081,841,000 after acquiring an additional 715,525 shares during the last quarter. Principal Financial Group Inc. grew its position in Liberty Media Corporation – Liberty Formula One Series C by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock worth $1,250,671,000 after acquiring an additional 129,822 shares during the last quarter. Schroder Investment Management Group grew its position in Liberty Media Corporation – Liberty Formula One Series C by 2.1% during the 3rd quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock worth $923,656,000 after acquiring an additional 186,077 shares during the last quarter. Silver Point Capital L.P. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth approximately $302,000. Finally, Jericho Capital Asset Management L.P. increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 17.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company’s stock worth $447,471,000 after purchasing an additional 688,000 shares during the period. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $98.50 on Monday. The company has a market cap of $22.07 billion, a PE ratio of 45.18 and a beta of 0.44. The business has a 50 day moving average of $90.26 and a 200 day moving average of $89.44. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings data 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 company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. On average, research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group lowered their price objective on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. 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 note on Saturday, June 6th. Weiss Ratings raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Finally, Wells Fargo & Company increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.43.

Insider Activity

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 11,597 shares of the company’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 value of $1,044,773.73. Following the transaction, the insider owned 15,590 shares in the company, valued at $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.

Liberty Media Corporation – Liberty Formula One Series C 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.