Artisan Partners Limited Partnership Cuts Stock Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Artisan Partners Limited Partnership trimmed its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,718,436 shares of the company’s stock after selling 206,145 shares during the period. Artisan Partners Limited Partnership owned 1.22% of Liberty Media Corporation – Liberty Formula One Series C worth $283,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 0.3% in the second quarter. Envestnet Asset Management Inc. now owns 410,337 shares of the company’s stock valued at $42,880,000 after purchasing an additional 1,057 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 32,146 shares of the company’s stock valued at $3,359,000 after buying an additional 1,275 shares during the period. Assetmark Inc. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 199.4% during the 2nd quarter. Assetmark Inc. now owns 500 shares of the company’s stock worth $52,000 after acquiring an additional 333 shares in the last quarter. Amalgamated Bank boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 9.5% in the 2nd quarter. Amalgamated Bank now owns 13,497 shares of the company’s stock worth $1,410,000 after acquiring an additional 1,174 shares during the period. Finally, Strs Ohio grew its position in Liberty Media Corporation – Liberty Formula One Series C by 2.4% in the second quarter. Strs Ohio now owns 26,965 shares of the company’s stock valued at $2,818,000 after acquiring an additional 637 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Chase Carey sold 83,536 shares of the stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 3.1%

Shares of NASDAQ FWONK opened at $86.54 on Friday. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 110.95 and a beta of 0.48. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36. The business has a 50 day simple moving average of $90.52 and a 200-day simple moving average of $96.31.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their target price for the company from $110.00 to $111.00 in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on 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. Finally, Wells Fargo & Company lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.20.

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.