The Manufacturers Life Insurance Company Has $396.63 Million Position in Liberty Media Corporation – Liberty Formula One Series C $FWONK

by · The Markets Daily

The Manufacturers Life Insurance Company grew its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) by 26.6% in the first quarter, HoldingsChannel.com reports. The fund owned 4,665,090 shares of the company’s stock after acquiring an additional 981,047 shares during the period. The Manufacturers Life Insurance Company’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $396,626,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after acquiring an additional 188 shares during the last quarter. Advisory Services Network LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at approximately $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $38,000. Osterweis Capital Management Inc. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after purchasing an additional 175 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.3%

Shares of NASDAQ FWONK opened at $98.33 on Tuesday. The company has a fifty day moving average price of $93.11 and a 200 day moving average price of $89.57. The firm has a market cap of $22.04 billion, a PE ratio of 45.11 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. Equities research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FWONK. Bank of America boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. UBS Group dropped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. JPMorgan Chase & Co. lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings raised 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. Finally, Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.20.

Check Out Our Latest Report on Liberty Media Corporation – Liberty Formula One Series C

Insider Transactions at Liberty Media Corporation – Liberty Formula One Series C

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C 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 sale, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Liberty Media Corporation – Liberty Formula One Series C Profile

(Free Report)

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.

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