Massachusetts Financial Services Co. MA Makes New $69.32 Million Investment in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Massachusetts Financial Services Co. MA purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 703,660 shares of the company’s stock, valued at approximately $69,318,000.

Other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $39,000. Root Financial Partners LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC grew its holdings in 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 valued at $47,000 after purchasing an additional 262 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Friday, March 27th. Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $111.00 in a research report on Monday, January 12th. JPMorgan Chase & Co. reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Wells Fargo & Company reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and an average price target of $111.11.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 2.2%

FWONK opened at $90.68 on Tuesday. The firm has a market capitalization of $20.32 billion, a P/E ratio of 41.22, a P/E/G ratio of 15.67 and a beta of 0.53. The firm’s 50 day moving average is $86.18 and its 200-day moving average is $92.84. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $77.00 and a 52-week high of $109.36.

About Liberty Media Corporation – Liberty Formula One Series C

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.