Chase Carey Sells 83,500 Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 83,500 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $95.79, for a total value of $7,998,465.00. Following the completion of the transaction, the director owned 94,356 shares of the company’s stock, valued at approximately $9,038,361.24. This trade represents a 46.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, December 17th, Chase Carey sold 83,536 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20.
• On Wednesday, November 12th, Chase Carey sold 81,006 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $102.89, for a total transaction of $8,334,707.34.
• On Monday, November 10th, Chase Carey sold 109,121 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $102.54, for a total transaction of $11,189,267.34.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK opened at $97.18 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36. The firm has a 50-day moving average of $97.06 and a 200 day moving average of $99.99. The stock has a market cap of $24.30 billion, a P/E ratio of 124.59 and a beta of 0.48.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. Research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

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

Several large investors have recently bought and sold shares of FWONK. Vanguard Group Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock valued at $2,132,636,000 after acquiring an additional 117,804 shares during the period. Schroder Investment Management Group raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.1% during the third quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock valued at $923,656,000 after purchasing an additional 186,077 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company’s stock valued at $400,694,000 after purchasing an additional 126,501 shares during the last quarter. Bank of America Corp DE lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 3.8% during the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company’s stock valued at $278,594,000 after purchasing an additional 98,354 shares during the period. Finally, Sands Capital Management LLC boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 5.4% in the third quarter. Sands Capital Management LLC now owns 2,014,627 shares of the company’s stock worth $210,428,000 after purchasing an additional 103,594 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FWONK has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Zacks Research cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and an average price target of $112.33.

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.