JPMorgan Chase & Co. Acquires 89,673 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

JPMorgan Chase & Co. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 33.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 357,780 shares of the company’s stock after purchasing an additional 89,673 shares during the period. JPMorgan Chase & Co. owned 0.16% of Liberty Media Corporation – Liberty Formula One Series C worth $37,375,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $39,000. Root Financial Partners LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth $41,000. Farther Finance Advisors LLC grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 138.6% in the third quarter. Farther Finance Advisors LLC now owns 451 shares of the company’s stock worth $47,000 after acquiring an additional 262 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2,605.6% during the third quarter. SJS Investment Consulting Inc. now owns 487 shares of the company’s stock valued at $51,000 after acquiring an additional 469 shares in the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Chase Carey sold 83,536 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the transaction, the director directly owned 94,356 shares of the company’s stock, valued at $9,147,814.20. This represents a 46.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 5.8%

Shares of NASDAQ FWONK opened at $91.59 on Friday. The firm’s 50-day moving average price is $90.41 and its 200-day moving average price is $96.28. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $75.26 and a 52-week high of $109.36. The company has a market cap of $22.90 billion, a PE ratio of 41.63 and a beta of 0.48.

Wall Street Analyst Weigh In

FWONK has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $93.00 to $95.00 in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their price target for the company from $110.00 to $111.00 in a research report on Monday, January 12th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $112.56.

Liberty Media Corporation – Liberty Formula One Series C 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.