Allstate Corp Invests $874,000 in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Allstate Corp purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,368 shares of the company’s stock, valued at approximately $874,000.

Several other institutional investors and hedge funds have also made changes to their positions in FWONK. Headlands Technologies LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $38,000. Osterweis Capital Management Inc. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $46,000. Farther Finance Advisors LLC boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 138.6% in the third quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock worth $47,000 after buying an additional 262 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 2,605.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 487 shares of the company’s stock valued at $51,000 after acquiring an additional 469 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their target price 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 research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 29th. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $110.00 to $111.00 in a research report on Monday, January 12th. Finally, Wall Street Zen cut 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. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and a consensus target price of $112.20.

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

In related news, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. This trade represents a 46.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Renee L. Wilm sold 11,200 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $91.89, for a total value of $1,029,168.00. Following the completion of the transaction, the insider owned 21,037 shares of the company’s stock, valued at $1,933,089.93. This represents a 34.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 368,363 shares of company stock worth $36,650,423 in the last ninety days. 4.31% of the stock is currently owned by company insiders.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ:FWONK opened at $89.50 on Thursday. The company has a 50 day moving average of $94.48 and a 200-day moving average of $98.88. The stock has a market cap of $22.38 billion, a price-to-earnings ratio of 114.75 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $75.26 and a one year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.18). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. Equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share 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.