Southpoint Capital Advisors LP Invests $51.01 Million in Liberty Media Corporation – Liberty Formula One Series C $FWONK

Southpoint Capital Advisors LP acquired a new position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 600,000 shares of the company’s stock, valued at approximately $51,012,000. Liberty Media Corporation – Liberty Formula One Series C makes up approximately 1.0% of Southpoint Capital Advisors LP’s holdings, making the stock its 28th biggest holding. Southpoint Capital Advisors LP owned about 0.27% of Liberty Media Corporation – Liberty Formula One Series C at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FWONK. Silver Point Capital L.P. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth about $302,000. Berkshire Hathaway Inc bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $297,358,000. Naya Capital Management UK Ltd. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth about $208,238,000. Norges Bank acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at $195,762,000. Finally, Franklin Resources Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after acquiring an additional 841,729 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $98.33 on Tuesday. The business has a fifty day moving average price of $93.11 and a 200 day moving average price of $89.57. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36. The stock has a market capitalization of $22.04 billion, a price-to-earnings ratio of 45.11 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. On average, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the stock in a transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the business’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 sale, the insider directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

FWONK has been the topic of several recent research reports. 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 report 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 research note on Saturday, June 6th. Bank of America boosted their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their target price 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 note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Hold” and a consensus price target 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.