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

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

FWONK stock opened at $91.06 on Friday. The company has a market cap 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 twelve month low of $80.15 and a twelve month high of $109.36. The business has a fifty day moving average of $88.02 and a 200-day moving average of $90.28.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share 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 the consensus estimate of $683.42 million. As a group, equities research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Axiom Investment Management LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the first quarter valued at approximately $510,000. Western Wealth Management LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the first quarter valued at approximately $109,000. Bank of America Corp DE lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% in the first 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 last quarter. Janus Henderson Group PLC lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after buying an additional 302,191 shares during the last quarter. Finally, Amundi lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 36.1% in the first quarter. Amundi now owns 759,738 shares of the company’s stock valued at $64,593,000 after buying an additional 201,643 shares during the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on FWONK. 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 company 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 report on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on 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 report on Thursday, March 19th. 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, Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $111.67.

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.