Key Points
- Chase Carey sold 83,500 shares of Liberty Media Formula One Series C on Dec. 16 at $95.79 for $7,998,465, leaving him with 94,356 shares — a 46.95% decrease in his ownership; this is one of several recent large insider sales (additional disposals on Dec. 17, Nov. 12 and Nov. 10 totaling tens of millions).
- FWONK trades near $96 with a $24.02B market cap and a high P/E of 123.18; analysts give a consensus "Moderate Buy" with a $112.33 average target, while the company recently posted an EPS miss ($0.24 vs. $0.42 expected) despite modest revenue upside.
Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) Director Chase Carey sold 83,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $95.79, for a total value of $7,998,465.00. Following the completion of the sale, the director owned 94,356 shares in the company, valued at approximately $9,038,361.24. This represents a 46.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Chase Carey also recently made the following trade(s):
- On Wednesday, December 17th, Chase Carey sold 83,536 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20.
- On Wednesday, November 12th, Chase Carey sold 81,006 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The shares were sold at an average price of $102.89, for a total transaction of $8,334,707.34.
- On Monday, November 10th, Chase Carey sold 109,121 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The stock was sold at an average price of $102.54, for a total transaction of $11,189,267.34.
Liberty Media Corporation - Liberty Formula One Series C Trading Down 0.8%
Liberty Media Corporation - Liberty Formula One Series C stock opened at $96.08 on Friday. The company's 50-day moving average price is $97.19 and its two-hundred day moving average price is $99.99. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 123.18 and a beta of 0.48. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $75.26 and a 52 week high of $109.36.
Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.18). The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.05 billion. Research analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on FWONK shares. JPMorgan Chase & Co. lifted their target price on Liberty Media Corporation - Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Tuesday, December 2nd. 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 note on Tuesday, September 9th. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Monday. Wells Fargo & Company upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $86.00 to $94.00 and gave the company an "underweight" rating in a report on Thursday, November 6th. Finally, Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $112.33.
Read Our Latest Analysis on Liberty Media Corporation - Liberty Formula One Series C
Institutional Trading of Liberty Media Corporation - Liberty Formula One Series C
Hedge funds have recently modified their holdings of the business. S Bank Fund Management Ltd acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at $347,000. Aviva PLC grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 7.4% during the 2nd quarter. Aviva PLC now owns 158,167 shares of the company's stock valued at $16,528,000 after acquiring an additional 10,932 shares in the last quarter. Geode Capital Management LLC grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company's stock valued at $400,694,000 after acquiring an additional 126,501 shares in the last quarter. Praxis Investment Management Inc. increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 28.1% in the 2nd quarter. Praxis Investment Management Inc. now owns 12,640 shares of the company's stock valued at $1,321,000 after purchasing an additional 2,770 shares during the period. Finally, M.D. Sass LLC lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 6.2% in the second quarter. M.D. Sass LLC now owns 534,126 shares of the company's stock worth $55,816,000 after purchasing an additional 31,352 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company's stock.
About Liberty Media Corporation - Liberty Formula One Series C
(
Get Free Report)
Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.
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