Renaissance Technologies LLC Has $70.35 Million Stake in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Renaissance Technologies LLC raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 306.1% in the 1st quarter, Holdings Channel reports. The firm owned 827,479 shares of the company’s stock after purchasing an additional 623,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $70,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bollard Group LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 1st quarter valued at about $4,123,000. Public Employees Retirement System of Ohio raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 10.1% during the first quarter. Public Employees Retirement System of Ohio now owns 420,508 shares of the company’s stock worth $35,752,000 after acquiring an additional 38,737 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the first quarter worth about $15,206,000. Sellaronda Global Management LP acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the first quarter worth approximately $34,008,000. Finally, State of Wyoming lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 92.4% in the first quarter. State of Wyoming now owns 6,491 shares of the company’s stock worth $552,000 after acquiring an additional 3,118 shares during the period. 92.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction dated 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 $1,404,503.10. This trade represents a 42.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Chase Carey sold 100,000 shares of the company’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 transaction, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $97.05 on Monday. The firm has a market cap of $21.75 billion, a PE ratio of 44.52 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The business’s 50 day moving average price is $92.96 and its two-hundred day moving average price is $89.56.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating 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. Research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FWONK. UBS Group decreased their target price on shares of 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. JPMorgan Chase & Co. upped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. 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, Wells Fargo & Company upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has an average rating of “Hold” and an average target price of $110.20.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.