Dockside LLC Acquires New Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Dockside LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,691 shares of the company’s stock, valued at approximately $3,516,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after buying an additional 841,729 shares during the period. Banco Santander S.A. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $1,685,000. JPMorgan Chase & Co. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock worth $37,375,000 after buying an additional 89,673 shares during the period. Vanguard Group Inc. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock worth $2,132,636,000 after buying an additional 117,804 shares during the period. Finally, ShawSpring Partners LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $22,720,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.31% of the stock is owned by company insiders.

Analyst Ratings Changes

FWONK has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Wells Fargo & Company increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. UBS Group cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and a consensus target price of $111.75.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK opened at $88.93 on Friday. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 40.79 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The firm’s 50 day simple moving average is $89.16 and its 200-day simple moving average is $89.59.

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 EPS 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 analyst estimates of $683.42 million. Analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

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.