Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 13.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 611,807 shares of the company’s stock after purchasing an additional 72,334 shares during the period. Royal Bank of Canada’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $52,015,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FWONK. Zions Bancorporation National Association UT raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at approximately $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Liberty Media Corporation – Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have 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 company an “equal weight” rating in a report on Friday, May 8th. Guggenheim lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. UBS Group cut their target price on 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. Bank of America upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

FWONK stock opened at $98.13 on Monday. The firm has a 50 day simple moving average of $93.97 and a 200 day simple moving average of $89.83. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The stock has a market cap of $21.99 billion, a P/E ratio of 45.01 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating 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. Sell-side analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 EPS for the current year.

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

In related news, Director Chase Carey sold 100,000 shares of the stock in a transaction on 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 completion of the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider directly 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 position. The disclosure for this sale is available in the SEC filing.

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.