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

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction 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 sale, the director directly owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.3%

FWONK opened at $90.79 on Friday. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 41.65 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The stock has a fifty day moving average price of $88.13 and a 200-day moving average price of $90.29.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. On average, equities research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FWONK shares. Wells Fargo & Company boosted their price target on 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. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Weiss Ratings raised 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. UBS Group reduced their price target on 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. Finally, JPMorgan Chase & Co. reduced their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.22.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

Large investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT grew 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 valued at $29,000 after purchasing an additional 188 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at about $34,000. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 70.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock valued at $42,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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.