Gabelli Funds LLC Trims Stock Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Gabelli Funds LLC lowered its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 93.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,350 shares of the company’s stock after selling 1,706,282 shares during the period. Gabelli Funds LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $9,807,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.6% in the 4th quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock worth $466,000 after buying an additional 118 shares during the period. Farther Finance Advisors LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after buying an additional 120 shares in the last quarter. Blair William & Co. IL raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.7% during the 4th quarter. Blair William & Co. IL now owns 5,175 shares of the company’s stock valued at $510,000 after acquiring an additional 135 shares during the period. Clearstead Advisors LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 1.4% during the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock valued at $1,016,000 after acquiring an additional 141 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company’s stock worth $3,234,000 after acquiring an additional 149 shares in the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $97.05 on Monday. The company’s 50 day simple moving average is $92.96 and its two-hundred day simple moving average is $89.56. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The stock has a market capitalization of $21.75 billion, a PE ratio of 44.52 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm 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 EPS for the current year.

Wall Street Analyst Weigh In

FWONK has been the subject of a number of analyst reports. UBS Group cut their price target 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 report on Wednesday, April 15th. Bank of America boosted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $110.20.

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.