Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock: Insider Chase Carey Sells 137,000 Shares

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 137,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $108.91, for a total transaction of $14,920,670.00. Following the transaction, the director owned 94,356 shares in the company, valued at approximately $10,276,311.96. The trade was a 59.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Chase Carey also recently made the following trade(s):

• On Tuesday, November 10th, Chase Carey sold 150,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The shares were sold at an average price of $107.86, for a total value of $16,179,000.00.
• On Thursday, November 12th, Chase Carey sold 137,331 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $110.14, for a total value of $15,125,636.34.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $109.04 on Friday. The stock has a market cap of $24.47 billion, a PE ratio of 125.33 and a beta of 0.46. The stock has a 50-day moving average of $95.62 and a 200-day moving average of $92.69. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $111.66.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FWONK. Allied Private Wealth LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $32,000. Anchor Investment Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at approximately $39,000. IFP Advisors Inc increased its position in Liberty Media Corporation – Liberty Formula One Series C by 148.5% in the 3rd quarter. IFP Advisors Inc now owns 420 shares of the company’s stock valued at $39,000 after acquiring an additional 251 shares during the period. WPG Advisers LLC raised its position in Liberty Media Corporation – Liberty Formula One Series C by 585.1% during the 3rd quarter. WPG Advisers LLC now owns 459 shares of the company’s stock worth $42,000 after purchasing an additional 392 shares during the last quarter. Finally, Signaturefd LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at about $43,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FWONK shares. Sanford C. Bernstein increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Zacks Research lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. Jefferies Financial Group began coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, September 9th. They issued a “buy” rating and a $115.00 target price for the company. JPMorgan Chase & Co. increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and a consensus price target of $118.44.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities. Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.