Insider Selling: Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Sells $15,125,636.34 in Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 137,331 shares of the business’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $110.14, for a total transaction of $15,125,636.34. Following the sale, the director directly owned 94,356 shares in the company, valued at $10,392,369.84. The trade was a 59.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 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.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 1.6%

Shares of NASDAQ FWONK traded down $1.73 during mid-day trading on Thursday, hitting $109.44. The company had a trading volume of 2,534,443 shares, compared to its average volume of 2,181,440. The company has a market capitalization 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 1 year low of $80.15 and a 1 year 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.

Analysts Set New Price Targets

Several brokerages have commented on FWONK. TD Cowen raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $118.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 7th. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Susquehanna cut 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 report on Friday, October 16th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.44.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $3,932,000. Braun Stacey Associates Inc. increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 13.5% in the 2nd quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company’s stock worth $29,860,000 after acquiring an additional 37,375 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 69.3% in the 3rd quarter. CenterBook Partners LP now owns 76,936 shares of the company’s stock valued at $7,109,000 after acquiring an additional 31,501 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.8% in 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 acquiring an additional 645,996 shares in the last quarter. Finally, Cooper Investors PTY Ltd. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 167.4% in the 3rd quarter. Cooper Investors PTY Ltd. now owns 312,499 shares of the company’s stock valued at $28,875,000 after acquiring an additional 195,639 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

About Liberty Media Corporation – Liberty Formula One Series C

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.