Assenagon Asset Management S.A. Cuts Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Assenagon Asset Management S.A. decreased its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 21.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,603 shares of the company’s stock after selling 13,351 shares during the period. Assenagon Asset Management S.A.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $4,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 22.7% in the first quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company’s stock valued at $11,570,000 after buying an additional 23,809 shares in the last quarter. Strs Ohio purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at $2,370,000. Voya Investment Management LLC increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 25.8% during the first quarter. Voya Investment Management LLC now owns 62,413 shares of the company’s stock worth $5,618,000 after purchasing an additional 12,817 shares in the last quarter. Cooper Investors PTY Ltd. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 6.6% during the second quarter. Cooper Investors PTY Ltd. now owns 202,538 shares of the company’s stock worth $21,165,000 after purchasing an additional 12,580 shares in the last quarter. Finally, M & L Capital Management Ltd increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.5% during the second quarter. M & L Capital Management Ltd now owns 88,665 shares of the company’s stock worth $9,265,000 after purchasing an additional 6,215 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $102.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Bank of America assumed coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, August 4th. They set a “neutral” rating and a $110.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. The Goldman Sachs Group reissued a “buy” rating and set a $120.00 target price on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Tuesday, July 22nd. Finally, UBS Group boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and a consensus price target of $111.22.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.7%

Shares of NASDAQ:FWONK opened at $104.78 on Thursday. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $74.34 and a 52 week high of $106.26. The company’s 50 day moving average is $100.91 and its two-hundred day moving average is $95.70. The company has a market cap of $23.43 billion, a PE ratio of 102.73 and a beta of 0.46.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.71. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, equities research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

Insider Activity

In other news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 5,651 shares of company stock valued at $572,250. Corporate insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.