Bank of New York Mellon Corp Sells 46,383 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Bank of New York Mellon Corp trimmed its position in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 7.0% in the first quarter, HoldingsChannel.com reports. The firm owned 613,048 shares of the company’s stock after selling 46,383 shares during the period. Bank of New York Mellon Corp’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $52,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation National Association UT increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock valued at $29,000 after buying an additional 188 shares during the period. Advisory Services Network LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $34,000. Headlands Technologies LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $38,000. Osterweis Capital Management Inc. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of 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 acquiring an additional 175 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 Trading Down 0.5%

FWONK opened at $96.48 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36. The stock has a market capitalization of $21.62 billion, a PE ratio of 44.26 and a beta of 0.44. The firm has a 50-day moving average price of $92.81 and a two-hundred day moving average price of $89.56.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. On average, research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FWONK shares. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Bank of America increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Wells Fargo & Company raised their target price 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. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $110.20.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $9,028,000.00. Following the completion of the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C 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.