Madison Asset Management LLC Sells 14,709 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Madison Asset Management LLC cut its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 1.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 970,479 shares of the company’s stock after selling 14,709 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C makes up about 1.1% of Madison Asset Management LLC’s portfolio, making the stock its 27th largest holding. Madison Asset Management LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $101,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 5.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company’s stock valued at $20,871,000 after purchasing an additional 10,620 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $1,255,000. S Bank Fund Management Ltd acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth approximately $347,000. Assenagon Asset Management S.A. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 79.9% in the third quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company’s stock worth $8,947,000 after acquiring an additional 38,054 shares in the last quarter. Finally, Cantillon Capital Management LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at approximately $121,803,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

Insider Activity

In other news, Director Chase Carey sold 83,536 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20. Following the completion of the transaction, the director directly owned 94,356 shares of the company’s stock, valued at $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FWONK shares. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $110.00 to $111.00 in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK opened at $85.73 on Wednesday. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $75.26 and a fifty-two week high of $109.36. The firm has a market capitalization of $21.44 billion, a P/E ratio of 109.91 and a beta of 0.48. The company’s 50-day moving average is $92.04 and its 200 day moving average is $97.29.

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.