Berkshire Hathaway Inc Purchases New Holdings in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Berkshire Hathaway Inc purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,018,555 shares of the company’s stock, valued at approximately $297,358,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FWONK. Silver Point Capital L.P. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $302,000. Norges Bank purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $195,762,000. Franklin Resources Inc. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after purchasing an additional 841,729 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $75,360,000. Finally, Hawk Ridge Capital Management LP lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 119.9% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,331,360 shares of the company’s stock worth $131,152,000 after buying an additional 725,860 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company increased their target price on 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. Weiss Ratings raised 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. JPMorgan Chase & Co. reduced their target price on 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. UBS Group reduced their target price on 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. Finally, Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $111.75.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

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

Liberty Media Corporation – Liberty Formula One Series C Trading Up 0.8%

Shares of NASDAQ FWONK opened at $90.35 on Thursday. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 41.45 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 stock’s 50 day simple moving average is $89.32 and its 200 day simple moving average is $89.46.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million during 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 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.