Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its stake in shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,559,125 shares of the company’s stock after selling 27,136 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $843,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 15.4% in the fourth quarter. Corient Private Wealth LLC now owns 27,605 shares of the company’s stock valued at $2,719,000 after purchasing an additional 3,694 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Liberty Media Corporation – Liberty Formula One Series C by 3.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,719 shares of the company’s stock worth $1,647,000 after buying an additional 584 shares during the period. Naya Capital Management UK Ltd. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $208,238,000. Vident Advisory LLC increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 3.0% in the fourth quarter. Vident Advisory LLC now owns 5,455 shares of the company’s stock valued at $537,000 after buying an additional 161 shares in the last quarter. Finally, KKM Financial LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $6,156,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

Insiders Place Their Bets

In related news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated 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 owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FWONK shares. UBS Group decreased their price target on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings raised Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wells Fargo & Company lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. lowered their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.75.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $90.76 on Friday. The company’s 50 day simple moving average is $89.41 and its 200-day simple moving average is $89.42. The firm has a market capitalization of $20.34 billion, a PE ratio of 41.63 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36.

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

Liberty Media Corporation – Liberty Formula One Series C 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.