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 the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK opened at $90.76 on Friday. The company has a market capitalization of $20.34 billion, a PE ratio of 41.63 and a beta of 0.47. The stock has a fifty day moving average of $89.41 and a 200-day moving average of $89.42. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (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. As a group, research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

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

Several hedge funds have recently bought and sold shares of FWONK. Silver Point Capital L.P. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at about $302,000. Berkshire Hathaway Inc purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth approximately $297,358,000. Naya Capital Management UK Ltd. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth approximately $208,238,000. Norges Bank acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth approximately $195,762,000. Finally, Bank of America Corp DE boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after purchasing an additional 1,376,984 shares during the period. 92.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FWONK shares. 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. Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. dropped their target price on shares of 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 report on Friday, May 29th. Wells Fargo & Company boosted their price target 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 report on Friday, May 8th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.75.

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.