Insider Selling: Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Sells 100,000 Shares of Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 100,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK traded up $0.73 during trading on Thursday, hitting $91.06. 1,585,716 shares of the stock traded hands, compared to its average volume of 2,083,360. The firm has a market capitalization of $20.41 billion, a P/E ratio of 41.77 and a beta of 0.44. The firm has a 50-day moving average of $87.96 and a 200 day moving average of $90.36. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. As a group, equities analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FWONK shares. UBS Group dropped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. 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 cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Wells Fargo & Company raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $111.67.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Formula One Series C

Institutional investors and hedge funds have recently modified their holdings of the stock. Banco Santander S.A. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth about $1,685,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth about $3,414,000. JPMorgan Chase & Co. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock worth $37,375,000 after acquiring an additional 89,673 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock worth $2,132,636,000 after acquiring an additional 117,804 shares in the last quarter. Finally, Optimize Financial Inc bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth about $1,536,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

About Liberty Media Corporation – Liberty Formula One Series C

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.