Wellington Management Group LLP Sells 978,369 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Wellington Management Group LLP cut its position in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 30.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,278,941 shares of the company’s stock after selling 978,369 shares during the quarter. Wellington Management Group LLP’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $216,818,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FWONK. Zions Bancorporation National Association UT lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock valued at $29,000 after buying an additional 188 shares during the period. Allied Private Wealth LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at $32,000. Advisory Services Network LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $38,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $39,000. Institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

FWONK opened at $101.80 on Monday. The company has a fifty day moving average price of $99.13 and a two-hundred day moving average price of $91.84. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36. The company has a market cap of $22.84 billion, a P/E ratio of 149.71 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The firm had revenue of $934.00 million for the quarter, compared to the consensus estimate of $952.78 million. On average, research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the 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 transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

FWONK has been the topic of a number of recent analyst reports. Guggenheim boosted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 17th. UBS Group raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Sanford C. Bernstein lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price target on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.