Bank of New York Mellon Corp Sells 81,424 Shares of Liberty Media Corporation – Liberty Formula One Series C $FWONK

Bank of New York Mellon Corp trimmed its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 11.0% in the 4th quarter, HoldingsChannel reports. The fund owned 659,431 shares of the company’s stock after selling 81,424 shares during the quarter. Bank of New York Mellon Corp’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $64,961,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Axxcess Wealth Management LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company’s stock worth $552,000 after acquiring an additional 119 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock worth $56,000 after buying an additional 120 shares during the last quarter. Compound Planning Inc. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 6.1% during the 3rd quarter. Compound Planning Inc. now owns 2,094 shares of the company’s stock worth $219,000 after buying an additional 121 shares during the last quarter. Clearstead Advisors LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 1.4% during the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock worth $1,016,000 after buying an additional 141 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 36.0% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 548 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the last quarter. 92.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on FWONK shares. UBS Group dropped their target price on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Wells Fargo & Company boosted 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 note on Friday, May 8th. 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. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. dropped their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.75.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $87.97 on Wednesday. The stock has a 50-day moving average of $88.87 and a two-hundred day moving average of $89.66. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The stock has a market cap of $19.71 billion, a P/E ratio of 40.35 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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. Analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.89 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 Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the sale, the director owned 94,356 shares of the company’s stock, 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 can be accessed through this link.

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.