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

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

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 Stock Performance

Shares of NASDAQ FWONK opened at $109.44 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $111.66. The stock has a market capitalization of $24.56 billion, a P/E ratio of 127.78 and a beta of 0.46. The stock’s fifty day moving average is $95.37 and its 200 day moving average is $92.60.

Analyst Ratings Changes

Several brokerages have recently commented on FWONK. Weiss Ratings cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Jefferies Financial Group began coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, September 9th. They set a “buy” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. lifted 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 note on Friday, August 7th. TD Cowen lifted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $118.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, UBS Group boosted their price objective 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 report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has an average rating of “Moderate Buy” and an average price target of $118.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $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 2nd quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company’s stock valued at $29,860,000 after purchasing an additional 37,375 shares during the last quarter. CenterBook Partners LP grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 69.3% during the 3rd quarter. CenterBook Partners LP now owns 76,936 shares of the company’s stock valued at $7,109,000 after purchasing an additional 31,501 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 worth $505,297,000 after purchasing an additional 645,996 shares in the last quarter. Finally, Cooper Investors PTY Ltd. increased its position in Liberty Media Corporation – Liberty Formula One Series C by 167.4% during the 3rd quarter. Cooper Investors PTY Ltd. now owns 312,499 shares of the company’s stock worth $28,875,000 after purchasing 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.