Pinnbrook Capital Management LP Purchases Shares of 36,319 Liberty Media Corporation – Liberty Formula One Series C $FWONK

Pinnbrook Capital Management LP purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 36,319 shares of the company’s stock, valued at approximately $3,578,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Santander S.A. bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at approximately $1,685,000. Cantillon Capital Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at approximately $121,803,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at approximately $3,414,000. JPMorgan Chase & Co. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock valued at $37,375,000 after purchasing an additional 89,673 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock valued at $2,132,636,000 after purchasing an additional 117,804 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FWONK. JPMorgan Chase & Co. lowered their price target on Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. UBS Group lowered their price target on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Weiss Ratings upgraded 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. Finally, Wells Fargo & Company upped 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. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.67.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.4%

Liberty Media Corporation – Liberty Formula One Series C stock opened at $89.20 on Friday. The company has a market capitalization of $19.99 billion, a P/E ratio of 40.92 and a beta of 0.44. The stock’s 50 day moving average is $87.59 and its 200 day moving average is $90.68. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share 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 analysts’ expectations of $683.42 million. As a group, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current 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.