Liberty Media Corporation – Liberty Formula One Series C $FWONK Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 29.6% in the first quarter, Holdings Channel.com reports. The firm owned 8,934,358 shares of the company’s stock after selling 3,761,482 shares during the period. Principal Financial Group Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $759,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FWONK. Silver Point Capital L.P. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth approximately $302,000. Berkshire Hathaway Inc acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $297,358,000. Naya Capital Management UK Ltd. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at $208,238,000. Norges Bank acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth $195,762,000. Finally, Franklin Resources Inc. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after buying an additional 841,729 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FWONK shares. Wells Fargo & Company upped their price target on 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. Bank of America boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. decreased their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, UBS Group dropped their price target 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 report on Wednesday, April 15th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.14.

Insider Transactions at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 3.7%

FWONK stock opened at $99.64 on Tuesday. The business’s 50-day simple moving average is $91.56 and its 200 day simple moving average is $89.48. The company has a market cap of $22.33 billion, a PE ratio of 45.71 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. On average, equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

About Liberty Media Corporation – Liberty Formula One Series C

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.