Sei Investments Co. Cuts Stock Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Sei Investments Co. lessened its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 734,485 shares of the company’s stock after selling 284,048 shares during the quarter. Sei Investments Co. owned 0.33% of Liberty Media Corporation – Liberty Formula One Series C worth $62,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Silver Point Capital L.P. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $302,000. Berkshire Hathaway Inc purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth about $297,358,000. Naya Capital Management UK Ltd. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $208,238,000. Norges Bank acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $195,762,000. Finally, Franklin Resources Inc. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after purchasing an additional 841,729 shares during the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on Monday, June 15th. The shares were 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were 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 of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $97.05 on Friday. The company has a market cap of $21.75 billion, a P/E ratio of 44.52 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 company has a 50-day moving average of $92.96 and a 200-day moving average of $89.62.

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

Analyst Upgrades and Downgrades

FWONK has been the subject of a number of analyst reports. Weiss Ratings raised 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. Bank of America lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their target price 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 note on Friday, May 8th. UBS Group reduced their target price 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 report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $110.20.

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.