Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Insider Sells $1,044,773.73 in Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) insider Renee Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred 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 completion of the sale, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

FWONK stock traded down $0.41 during trading on Tuesday, reaching $89.63. The company had a trading volume of 2,356,917 shares, compared to its average volume of 2,048,094. The firm has a 50-day simple moving average of $89.21 and a 200-day simple moving average of $89.54. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 41.11 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its 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 analyst estimates of $683.42 million. Sell-side analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

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

Several large investors have recently made changes to their positions in FWONK. Silver Point Capital L.P. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $302,000. Berkshire Hathaway Inc acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $297,358,000. Naya Capital Management UK Ltd. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $208,238,000. Norges Bank acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at $195,762,000. Finally, Bank of America Corp DE lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% in 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 purchasing an additional 1,376,984 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on FWONK. Weiss Ratings upgraded 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. UBS Group reduced their price target 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 report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. 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. Finally, Wells Fargo & Company raised their price target on shares of 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. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and a consensus price target of $111.75.

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.