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

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 150,000 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $107.86, for a total transaction of $16,179,000.00. Following the completion of the sale, the director owned 94,356 shares in the company, valued at approximately $10,177,238.16. This trade represents a 61.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 shares were 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

NASDAQ:FWONK opened at $109.04 on Friday. 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 firm has a 50 day simple moving average of $95.62 and a 200-day simple moving average of $92.69. The firm has a market cap of $24.47 billion, a PE ratio of 125.33 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on 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. UBS Group boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Guggenheim increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 17th. Jefferies Financial Group initiated coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, September 9th. They issued a “buy” rating and a $115.00 price target on the stock. Finally, Sanford C. Bernstein lifted 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. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth $3,932,000. Braun Stacey Associates Inc. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.5% during the second quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company’s stock valued at $29,860,000 after buying an additional 37,375 shares during the last quarter. CenterBook Partners LP increased its position 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 during the period. The Manufacturers Life Insurance Company increased its position 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 during the period. Finally, Cooper Investors PTY Ltd. raised its stake in 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 worth $28,875,000 after acquiring an additional 195,639 shares during the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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.