Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey Sells 137,331 Shares of Company Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey sold 137,331 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $110.14, for a total transaction of $15,125,636.34. Following the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $10,392,369.84. The trade was a 59.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 value of $16,179,000.00.
• On Wednesday, November 11th, Chase Carey sold 137,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock. The stock was sold at an average price of $108.91, for a total value of $14,920,670.00.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK opened at $109.44 on Friday. The stock has a market cap of $24.56 billion, a P/E ratio of 127.78 and a beta of 0.46. The stock’s 50 day simple moving average is $95.37 and its 200 day simple moving average is $92.60. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $111.66.

Analysts Set New Price Targets

A number of analysts have commented on FWONK shares. Susquehanna decreased their target price on Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating on the stock in a research report on Friday, October 16th. UBS Group raised their price target on 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. Sanford C. Bernstein lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Zacks Research lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $96.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.44.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 69.9% during the 3rd quarter. First Trust Advisors LP now owns 177,704 shares of the company’s stock worth $16,420,000 after purchasing an additional 73,135 shares during the last quarter. Texas Yale Capital Corp. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at approximately $1,770,000. GW&K Investment Management LLC lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 4.6% in the 3rd quarter. GW&K Investment Management LLC now owns 152,889 shares of the company’s stock valued at $14,127,000 after buying an additional 6,789 shares in the last quarter. Private Wealth Asset Management LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at $183,000. Finally, USS Investment Management Ltd grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 14.8% during the 3rd quarter. USS Investment Management Ltd now owns 266,874 shares of the company’s stock valued at $24,678,000 after buying an additional 34,384 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

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.