Ashe Capital Management LP Decreases Stock Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Ashe Capital Management LP lessened its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,616,024 shares of the company’s stock after selling 275,000 shares during the quarter. Liberty Media Corporation – Liberty Formula One Series C comprises 17.2% of Ashe Capital Management LP’s investment portfolio, making the stock its 3rd biggest position. Ashe Capital Management LP owned 0.72% of Liberty Media Corporation – Liberty Formula One Series C worth $137,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FWONK. Maplelane Capital LLC increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 21.6% in the 1st quarter. Maplelane Capital LLC now owns 171,500 shares of the company’s stock valued at $14,581,000 after buying an additional 30,500 shares during the period. Renaissance Technologies LLC raised its position in Liberty Media Corporation – Liberty Formula One Series C by 306.1% during the first quarter. Renaissance Technologies LLC now owns 827,479 shares of the company’s stock valued at $70,352,000 after purchasing an additional 623,700 shares in the last quarter. Bollard Group LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the first quarter valued at approximately $4,123,000. Public Employees Retirement System of Ohio lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 10.1% during the first quarter. Public Employees Retirement System of Ohio now owns 420,508 shares of the company’s stock worth $35,752,000 after purchasing an additional 38,737 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the first quarter worth $15,206,000. Institutional investors own 92.26% of the company’s stock.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information. 4.31% of the stock is currently owned by company insiders.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $97.05 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 44.52 and a beta of 0.44. The stock has a fifty day moving average of $92.96 and a 200-day moving average of $89.62.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. As a group, equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

Analyst Ratings Changes

FWONK has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Bank of America upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Hold” and an average price target of $110.20.

Liberty Media Corporation – Liberty Formula One Series C 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.