Envestnet Portfolio Solutions Inc. Increases Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Envestnet Portfolio Solutions Inc. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 16.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,699 shares of the company’s stock after buying an additional 510 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $29,000. GW&K Investment Management LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the first quarter valued at $25,000. Western Pacific Wealth Management LP lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 71.4% during the second quarter. Western Pacific Wealth Management LP now owns 1,200 shares of the company’s stock valued at $125,000 after purchasing an additional 500 shares during the period. Inspire Investing LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $208,000. Finally, Cigna Investments Inc. New acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $222,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

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

In related news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders have sold 5,651 shares of company stock worth $572,250. 4.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FWONK shares. Susquehanna boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $121.00 and gave the company a “positive” rating in a research report on Wednesday, June 25th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $87.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.22.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $97.78 on Thursday. The firm has a 50-day simple moving average of $101.95 and a two-hundred day simple moving average of $97.91. The company has a market cap of $21.87 billion, a P/E ratio of 95.86 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $75.26 and a fifty-two week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.71. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. Equities research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

About Liberty Media Corporation – Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.