Assenagon Asset Management S.A. Increases Stock Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Assenagon Asset Management S.A. lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 79.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,657 shares of the company’s stock after purchasing an additional 38,054 shares during the period. Assenagon Asset Management S.A.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $8,947,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. S Bank Fund Management Ltd purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $347,000. Aviva PLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.4% during the second quarter. Aviva PLC now owns 158,167 shares of the company’s stock valued at $16,528,000 after acquiring an additional 10,932 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company’s stock worth $400,694,000 after acquiring an additional 126,501 shares during the period. Praxis Investment Management Inc. boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 28.1% in the second quarter. Praxis Investment Management Inc. now owns 12,640 shares of the company’s stock worth $1,321,000 after purchasing an additional 2,770 shares during the last quarter. Finally, M.D. Sass LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 6.2% in the 2nd quarter. M.D. Sass LLC now owns 534,126 shares of the company’s stock valued at $55,816,000 after purchasing an additional 31,352 shares during the period. 92.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FWONK. JPMorgan Chase & Co. lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 15th. Wells Fargo & Company increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.33.

Insiders Place Their Bets

In related news, insider Renee L. Wilm sold 11,200 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $91.89, for a total transaction of $1,029,168.00. Following the sale, the insider owned 21,037 shares of the company’s stock, valued at approximately $1,933,089.93. This represents a 34.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction dated 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 owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 368,363 shares of company stock worth $36,650,423. 4.31% of the stock is currently owned by corporate insiders.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.1%

Shares of FWONK stock opened at $97.18 on Friday. The firm’s 50 day moving average is $97.06 and its 200 day moving average is $100.02. The stock has a market capitalization of $24.30 billion, a P/E ratio of 124.59 and a beta of 0.48. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. On average, equities analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.