Partner Fund Management L.P. Invests $447,000 in Liberty Media Formula One Series C (FWONK) Stock

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Partner Fund Management L.P. acquired a new position in Liberty Media Formula One Series C (NASDAQ:FWONK) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 14,544 shares of the company’s stock, valued at approximately $447,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FWONK. State of Alaska Department of Revenue boosted its stake in Liberty Media Formula One Series C by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 20,960 shares of the company’s stock worth $643,000 after purchasing an additional 406 shares during the period. Hsbc Holdings PLC boosted its stake in Liberty Media Formula One Series C by 2.2% in the 4th quarter. Hsbc Holdings PLC now owns 20,359 shares of the company’s stock worth $625,000 after purchasing an additional 429 shares during the period. Lafayette Investments Inc. boosted its stake in Liberty Media Formula One Series C by 9.0% in the 4th quarter. Lafayette Investments Inc. now owns 9,290 shares of the company’s stock worth $285,000 after purchasing an additional 770 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Liberty Media Formula One Series C by 4.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 17,354 shares of the company’s stock worth $533,000 after purchasing an additional 813 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Liberty Media Formula One Series C by 0.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 495,208 shares of the company’s stock worth $18,417,000 after purchasing an additional 1,364 shares during the period. 85.92% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on FWONK. Zacks Investment Research upgraded Liberty Media Formula One Series C from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Wednesday, March 13th. ValuEngine upgraded Liberty Media Formula One Series C from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.50.

Shares of FWONK opened at $34.88 on Tuesday. The stock has a market cap of $8.08 billion, a PE ratio of -53.66 and a beta of 1.02. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.62. Liberty Media Formula One Series C has a 12-month low of $27.51 and a 12-month high of $39.35.

Liberty Media Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, February 28th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.38). The business had revenue of $481.00 million for the quarter, compared to the consensus estimate of $494.89 million. Liberty Media Formula One Series C had a negative net margin of 8.21% and a negative return on equity of 0.69%. On average, equities analysts forecast that Liberty Media Formula One Series C will post -0.56 earnings per share for the current year.

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About Liberty Media Formula One Series C

Formula One Group, through its subsidiaries, engages in the media and entertainment businesses in North America. Formula One Group was formerly known as The Liberty Media Group. The company is based in Englewood, Colorado. Formula One Group is a former subsidiary of Liberty Media Corporation.

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Institutional Ownership by Quarter for Liberty Media Formula One Series C (NASDAQ:FWONK)

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