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

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Director Chase Carey sold 137,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $108.91, for a total transaction of $14,920,670.00. Following the completion of the sale, the director owned 94,356 shares of the company’s stock, valued at $10,276,311.96. This trade represents a 59.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 A stock. The shares were sold at an average price of $107.86, for a total value of $16,179,000.00.
• On Thursday, November 12th, Chase Carey sold 137,331 shares of Liberty Media Corporation – Liberty Formula One Series A stock. The shares were sold at an average price of $110.14, for a total transaction of $15,125,636.34.

Liberty Media Corporation – Liberty Formula One Series A Price Performance

FWONA opened at $104.33 on Friday. Liberty Media Corporation – Liberty Formula One Series A has a 1 year low of $73.70 and a 1 year high of $106.51. The business’s 50-day moving average is $88.22 and its two-hundred day moving average is $85.22. The firm has a market capitalization of $26.13 billion, a PE ratio of 119.92 and a beta of 0.52.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.13). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, sell-side analysts expect that Liberty Media Corporation – Liberty Formula One Series A will post 2.11 EPS for the current year.

Analyst Upgrades and Downgrades

FWONA has been the topic of a number of recent research reports. Guggenheim boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series A from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Citigroup reaffirmed a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Liberty Media Corporation – Liberty Formula One Series A from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research started coverage on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Monday, November 9th. They issued a “hold” rating on the stock. Finally, TD Cowen upped their price target on Liberty Media Corporation – Liberty Formula One Series A from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series A has a consensus rating of “Moderate Buy” and a consensus target price of $114.25.

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

Several institutional investors and hedge funds have recently made changes to their positions in FWONA. Madison Asset Management LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series A in the second quarter valued at $131,567,000. Bank of New York Mellon Corp purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series A during the second quarter worth about $56,066,000. Principal Financial Group Inc. increased its position in Liberty Media Corporation – Liberty Formula One Series A by 14.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,518,828 shares of the company’s stock valued at $118,593,000 after acquiring an additional 191,619 shares during the period. Engineers Gate Manager LP lifted its position in Liberty Media Corporation – Liberty Formula One Series A by 4,106.5% during the 2nd quarter. Engineers Gate Manager LP now owns 174,442 shares of the company’s stock worth $15,271,000 after acquiring an additional 170,295 shares during the period. Finally, Elgethun Capital Management purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series A in the 3rd quarter valued at approximately $13,365,000. 8.38% of the stock is owned by hedge funds and other institutional investors.

About Liberty Media Corporation – Liberty Formula One Series A

Liberty Media Corporation’s Liberty Formula One Group is a tracking-stock group whose principal business is Formula 1, the international motor-racing series. Formula 1 organizes and promotes the FIA Formula One World Championship and commercializes its media, sponsorship, licensing, hospitality and other related rights. The business serves a global audience, with races, broadcast distribution and commercial partnerships spanning multiple regions. Its activities include working with race promoters, teams, broadcasters and sponsors, as well as developing digital content and experiences for fans.