Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Sells $9,028,000.00 in Stock

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

Liberty Media Corporation – Liberty Formula One Series C Trading Up 0.8%

Shares of NASDAQ:FWONK traded up $0.73 during trading on Thursday, reaching $91.06. The company had a trading volume of 1,585,716 shares, compared to its average volume of 2,083,360. The company has a fifty day moving average of $87.96 and a two-hundred day moving average of $90.36. The stock has a market capitalization of $20.41 billion, a P/E ratio of 41.77 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.

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 company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. As a group, equities research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FWONK. Wells Fargo & Company upped their price objective on shares of 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 note on Friday, May 8th. 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 note on Friday, May 1st. JPMorgan Chase & Co. cut their price objective 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 note on Thursday, March 19th. 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 for the company in a research note on Wednesday, April 15th. Finally, 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 note on Sunday, May 17th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.67.

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

A number of institutional investors have recently made changes to their positions in FWONK. Silver Point Capital L.P. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $302,000. Berkshire Hathaway Inc purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at $297,358,000. Naya Capital Management UK Ltd. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at $208,238,000. Norges Bank purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at $195,762,000. Finally, Bank of America Corp DE boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after buying an additional 1,376,984 shares during the period. 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.