Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey Sells 137,000 Shares of Company Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 137,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $108.91, for a total value of $14,920,670.00. Following the completion of the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $10,276,311.96. The trade was a 59.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, November 10th, Chase Carey sold 150,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $107.86, for a total value of $16,179,000.00.
• On Thursday, November 12th, Chase Carey sold 137,331 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The shares were 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 Stock Down 1.6%

FWONK stock opened at $109.44 on Friday. The business’s 50-day moving average price is $95.37 and its 200-day moving average price is $92.60. The stock has a market cap of $24.56 billion, a P/E ratio of 127.78 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $111.66.

Wall Street Analyst Weigh In

FWONK has been the subject of a number of analyst reports. Susquehanna reduced 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. UBS Group lifted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. 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 report on Monday. Guggenheim increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Finally, Zacks Research cut Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and a consensus price target of $118.44.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FWONK. Janus Henderson Group PLC lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock worth $925,299,000 after purchasing an additional 302,191 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock valued at $505,297,000 after buying an additional 645,996 shares in the last quarter. Bank of America Corp DE grew its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 58.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock valued at $202,919,000 after buying an additional 819,363 shares in the last quarter. Finally, Junto Capital Management LP raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 178.1% during the second quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock valued at $162,431,000 after buying an additional 1,093,372 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

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.