Kornitzer Capital Management Inc. KS Invests $5.03 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Kornitzer Capital Management Inc. KS acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the first quarter, Holdings Channel reports. The institutional investor acquired 59,170 shares of the company’s stock, valued at approximately $5,031,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FWONK. Principal Securities Inc. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock valued at $466,000 after buying an additional 118 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after acquiring an additional 120 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.7% in 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 stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.4% in 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 holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.5% in the 4th 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 during the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.2%

NASDAQ FWONK traded up $0.22 during trading hours on Friday, hitting $96.13. 1,483,710 shares of the company were exchanged, compared to its average volume of 2,060,985. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 44.10 and a beta of 0.44. The company has a 50 day moving average of $91.28 and a two-hundred day moving average of $89.52. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) 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 analysts’ expectations of $683.42 million. On average, equities research analysts predict 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 research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of 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. 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. Bank of America raised their price target 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 lifted their price objective 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 research note on Friday, May 8th. Finally, 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. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and an average price target of $111.14.

Insider Activity 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 business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.31% of the stock is owned by company insiders.

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.