Key Points
- Director Chase Carey sold 100,000 shares of Liberty Media Formula One Series C (NASDAQ:FWONK) at an average price of $90.28, totaling about $9.03 million. After the sale, he still owned 94,356 shares, cutting his stake by 51.45%.
- The stock rose 0.8% and opened at $91.06, with a market cap of $20.41 billion. It has traded between a 12-month low of $80.15 and a high of $109.36.
- Liberty Media recently reported better-than-expected quarterly results, earning $0.03 per share versus analysts’ estimate of a loss, on revenue of $711 million. Analysts currently rate the stock a Moderate Buy with a consensus target price of $111.67.
Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) Director Chase Carey sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.8%
FWONK opened at $91.06 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 41.77 and a beta of 0.44. The business has a 50 day moving average of $88.02 and a 200-day moving average of $90.28.
Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. As a group, analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.96 earnings per share for the current year.
Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series C
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company's stock worth $2,081,841,000 after acquiring an additional 715,525 shares during the period. Principal Financial Group Inc. increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company's stock worth $1,250,671,000 after acquiring an additional 129,822 shares during the period. Janus Henderson Group PLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 2.9% during the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company's stock worth $925,299,000 after acquiring an additional 302,191 shares during the period. Schroder Investment Management Group increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 2.1% during the 3rd quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company's stock worth $923,656,000 after acquiring an additional 186,077 shares during the period. Finally, Silver Point Capital L.P. bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter worth $302,000. Institutional investors own 92.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on FWONK shares. UBS Group lowered their target price 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. JPMorgan Chase & Co. lowered their target price on Liberty Media Corporation - Liberty Formula One Series C from $122.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Weiss Ratings upgraded 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. Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research note on Sunday, May 17th. Finally, Wells Fargo & Company increased their target price 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 research note on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.67.
Check Out Our Latest Stock Analysis on Liberty Media Corporation - Liberty Formula One Series C
About Liberty Media Corporation - Liberty Formula One Series C
(
Get Free Report)
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.
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