Insider Selling: Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Sells 150,000 Shares of Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $107.86, for a total value of $16,179,000.00. Following the completion of the transaction, the director directly owned 94,356 shares of the company’s stock, valued at approximately $10,177,238.16. This trade represents a 61.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Chase Carey also recently made the following trade(s):

• On Wednesday, November 11th, Chase Carey sold 137,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $108.91, for a total value of $14,920,670.00.
• On Thursday, November 12th, Chase Carey sold 137,331 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $110.14, for a total value of $15,125,636.34.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK traded down $1.73 on Thursday, reaching $109.44. 2,534,443 shares of the stock traded hands, compared to its average volume of 2,181,440. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 125.79 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $111.66. The stock’s 50-day moving average price is $95.13 and its 200-day moving average price is $92.50.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

A number of hedge funds have recently modified their holdings of the stock. First Trust Advisors LP lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 69.9% during the 3rd quarter. First Trust Advisors LP now owns 177,704 shares of the company’s stock worth $16,420,000 after buying an additional 73,135 shares during the period. Texas Yale Capital Corp. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at $1,770,000. GW&K Investment Management LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 4.6% in the third quarter. GW&K Investment Management LLC now owns 152,889 shares of the company’s stock valued at $14,127,000 after acquiring an additional 6,789 shares during the period. Private Wealth Asset Management LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at $183,000. Finally, USS Investment Management Ltd raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 14.8% during the third quarter. USS Investment Management Ltd now owns 266,874 shares of the company’s stock worth $24,678,000 after acquiring an additional 34,384 shares in the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FWONK shares. Weiss Ratings downgraded 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 Monday. Sanford C. Bernstein boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Susquehanna dropped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating for the company in a research note on Friday, October 16th. Jefferies Financial Group began coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, September 9th. They set a “buy” rating and a $115.00 price objective for the company. Finally, Guggenheim raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.44.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities. Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.