Investors Buy High Volume of Put Options on Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK)

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was the target of some unusual options trading activity on Monday. Investors purchased 7,960 put options on the stock. This is an increase of approximately 1,941% compared to the average volume of 390 put options.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FWONK. Wells Fargo & Company lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Bank of America raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. upped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, UBS Group cut their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Hold” and a consensus price target of $110.20.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.3%

Shares of NASDAQ FWONK opened at $97.92 on Wednesday. The stock has a market capitalization of $21.94 billion, a PE ratio of 44.92 and a beta of 0.44. The firm has a fifty day moving average of $92.60 and a 200-day moving average of $89.59. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week 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 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Equities research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the transaction, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Annex Advisory Services LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 28.8% in the second quarter. Annex Advisory Services LLC now owns 566,357 shares of the company’s stock valued at $53,883,000 after buying an additional 126,809 shares during the period. Handelsbanken Fonder AB grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 1.2% during the second quarter. Handelsbanken Fonder AB now owns 67,500 shares of the company’s stock worth $6,422,000 after buying an additional 800 shares during the period. Allied Private Wealth LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $32,000. Assenagon Asset Management S.A. increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.2% in the second quarter. Assenagon Asset Management S.A. now owns 771,974 shares of the company’s stock worth $73,446,000 after acquiring an additional 24,020 shares in the last quarter. Finally, Lincoln Capital LLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.0% in the second quarter. Lincoln Capital LLC now owns 84,595 shares of the company’s stock worth $8,048,000 after acquiring an additional 5,500 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.