Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock: Insider Chase Carey Sells 137,000 Shares

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 137,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $108.91, for a total value of $14,920,670.00. Following the transaction, the director directly owned 94,356 shares of the company’s stock, valued at $10,276,311.96. This represents a 59.22% decrease in their position. 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 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 transaction of $16,179,000.00.
• 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 transaction of $15,125,636.34.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

NASDAQ FWONK traded down $1.73 on Thursday, reaching $109.44. The company’s stock had a trading volume of 2,534,443 shares, compared to its average volume of 2,181,440. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $111.66. The stock has a market cap of $24.56 billion, a PE ratio of 125.79 and a beta of 0.46. The firm’s 50 day moving average is $95.13 and its two-hundred day moving average is $92.50.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

A number of hedge funds and other institutional investors have recently modified their holdings of FWONK. Janus Henderson Group PLC increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock worth $925,299,000 after purchasing an additional 302,191 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 buying an additional 645,996 shares during the period. Bank of America Corp DE raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after buying an additional 1,376,984 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 58.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock valued at $202,919,000 after buying an additional 819,363 shares in the last quarter. Finally, Hawk Ridge Capital Management LP lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 38.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,849,660 shares of the company’s stock valued at $157,258,000 after buying an additional 518,300 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FWONK. 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 Thursday, October 29th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Finally, TD Cowen lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $118.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and an average price target of $118.44.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.