Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,799 shares of the company’s stock after selling 1,731 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $2,487,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $29,000. Western Pacific Wealth Management LP lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 71.4% in the second quarter. Western Pacific Wealth Management LP now owns 1,200 shares of the company’s stock valued at $125,000 after buying an additional 500 shares during the period. Cigna Investments Inc. New acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $222,000. Finally, GAMMA Investing LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 10.9% during the second quarter. GAMMA Investing LLC now owns 2,170 shares of the company’s stock worth $227,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 0.7%

NASDAQ:FWONK opened at $104.83 on Friday. The firm has a market capitalization of $23.44 billion, a price-to-earnings ratio of 102.78 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $74.34 and a 1-year high of $106.51. The business’s fifty day moving average price is $101.03 and its 200 day moving average price is $96.60.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $102.44, for a total transaction of $397,979.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 5,651 shares of company stock worth $572,250 over the last quarter. 4.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FWONK. Susquehanna upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $121.00 and gave the company a “positive” rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. UBS Group upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $98.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Wells Fargo & Company reduced their target price on Liberty Media Corporation – Liberty Formula One Series C from $87.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.22.

About Liberty Media Corporation – Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.