Coatue Management LLC Acquires Shares of 885,059 Liberty Media Formula One Series C (NASDAQ:FWONK)

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Coatue Management LLC acquired a new stake in Liberty Media Formula One Series C (NASDAQ:FWONK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 885,059 shares of the company’s stock, valued at approximately $28,065,000. Coatue Management LLC owned 0.38% of Liberty Media Formula One Series C as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of Liberty Media Formula One Series C by 38.0% in the 1st quarter. First Trust Advisors LP now owns 86,656 shares of the company’s stock worth $3,037,000 after purchasing an additional 23,853 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Liberty Media Formula One Series C by 2.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 37,647 shares of the company’s stock worth $1,026,000 after buying an additional 1,054 shares during the period. Comerica Bank boosted its stake in Liberty Media Formula One Series C by 17.3% during the first quarter. Comerica Bank now owns 15,709 shares of the company’s stock worth $431,000 after buying an additional 2,322 shares during the period. BlackRock Inc. boosted its stake in Liberty Media Formula One Series C by 3.5% during the first quarter. BlackRock Inc. now owns 12,837,654 shares of the company’s stock worth $349,569,000 after buying an additional 428,928 shares during the period. Finally, KBC Group NV boosted its stake in Liberty Media Formula One Series C by 40.1% during the first quarter. KBC Group NV now owns 46,141 shares of the company’s stock worth $1,256,000 after buying an additional 13,211 shares during the period. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Several research analysts have weighed in on FWONK shares. Morgan Stanley increased their target price on shares of Liberty Media Formula One Series C from $32.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Investment Research raised shares of Liberty Media Formula One Series C from a “sell” rating to a “hold” rating in a research note on Wednesday, August 12th. B. Riley reaffirmed a “buy” rating and set a $39.00 target price on shares of Liberty Media Formula One Series C in a research note on Tuesday, June 30th. Finally, Pivotal Research reissued a “buy” rating and issued a $44.00 price objective on shares of Liberty Media Formula One Series C in a research note on Monday, August 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $42.00.

Shares of NASDAQ FWONK traded down $0.41 on Friday, reaching $37.98. 822,000 shares of the company traded hands, compared to its average volume of 1,005,988. The company has a 50 day moving average of $37.12 and a 200 day moving average of $33.14. The stock has a market capitalization of $8.80 billion, a PE ratio of -14.01 and a beta of 1.32. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.68. Liberty Media Formula One Series C has a fifty-two week low of $18.31 and a fifty-two week high of $48.95.

Liberty Media Formula One Series C Profile

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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

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