Blacksheep Fund Management Ltd Sells 31,350 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Blacksheep Fund Management Ltd trimmed its holdings in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 8.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 351,706 shares of the company’s stock after selling 31,350 shares during the period. Liberty Media Corporation – Liberty Formula One Series C makes up about 31.3% of Blacksheep Fund Management Ltd’s holdings, making the stock its 2nd largest holding. Blacksheep Fund Management Ltd owned approximately 0.16% of Liberty Media Corporation – Liberty Formula One Series C worth $36,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ShawSpring Partners LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth $22,720,000. Johnson Financial Group Inc. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 517.0% in the 3rd quarter. Johnson Financial Group Inc. now owns 617 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the period. Sands Capital Management LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 5.4% in the 3rd quarter. Sands Capital Management LLC now owns 2,014,627 shares of the company’s stock valued at $210,428,000 after buying an additional 103,594 shares during the period. Magnetar Financial LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 16.5% in the third quarter. Magnetar Financial LLC now owns 3,841 shares of the company’s stock valued at $401,000 after buying an additional 543 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $126,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analysts Set New Price Targets

FWONK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target 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 report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $110.00 to $111.00 in a report on Monday, January 12th. Finally, Wells Fargo & Company raised Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $93.00 to $95.00 in a research report on Friday, February 27th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.56.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 83,536 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were 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 in the company, valued at $9,147,814.20. The trade was 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 the SEC website. 4.31% of the stock is owned by corporate insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $85.19 on Friday. The company’s 50-day simple moving average is $88.32 and its 200-day simple moving average is $95.38. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36. The stock has a market capitalization of $19.09 billion, a PE ratio of 38.72, a P/E/G ratio of 12.11 and a beta of 0.44.

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.