Traders Buy Large Volume of Liberty Media Corporation – Liberty Formula One Series C Put Options (NASDAQ:FWONK)

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) saw unusually large options trading on Monday. Investors purchased 7,960 put options on the company. This is an increase of 1,941% compared to the average volume of 390 put options.

Analyst Ratings Changes

Several brokerages have commented on FWONK. Bank of America raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. 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. Weiss Ratings upgraded shares of 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. 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.14.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 2.9%

NASDAQ:FWONK opened at $99.20 on Tuesday. The business’s fifty day moving average price is $92.46 and its 200 day moving average price is $89.59. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of 45.50 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Renee L. 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 sale, the insider directly owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

Several institutional investors have recently made changes to their positions in FWONK. Invesco Ltd. increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock valued at $52,701,000 after buying an additional 170,435 shares during the period. Cresset Asset Management LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $502,000. Daiwa Securities Group Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock valued at $3,902,000 after buying an additional 6,285 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $1,863,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $1,255,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.