Key Points
- Director Chase Carey sold 137,000 shares for about $14.9 million at an average of $108.91, reducing his stake by 59.22% to 94,356 shares. The article also reports two additional sales around the same time.
- Analysts maintain a “Moderate Buy” consensus on FWONK, with an average price target of $118.44; seven analysts rate it Buy and four rate it Hold.
- The stock was trading near its 52-week high: it opened at $109.44, compared with a 52-week range of $80.15 to $111.66. Institutional investors own 92.26% of the shares.
Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) Director Chase Carey sold 137,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Wednesday, November 11th. The shares were 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 in the company, valued at approximately $10,276,311.96. This represents a 59.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction of $16,179,000.00.
- On Thursday, November 12th, Chase Carey sold 137,331 shares of Liberty Media Corporation - Liberty Formula One Series C 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 C Stock Down 1.6%
FWONK opened at $109.44 on Friday. The firm has a 50-day simple moving average of $95.37 and a two-hundred day simple moving average of $92.60. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $111.66. The company has a market capitalization of $24.56 billion, a PE ratio of 127.78 and a beta of 0.46.
Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series C
Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 69.9% in the 3rd quarter. First Trust Advisors LP now owns 177,704 shares of the company's stock worth $16,420,000 after buying an additional 73,135 shares in the last quarter. Texas Yale Capital Corp. purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at about $1,770,000. GW&K Investment Management LLC raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 4.6% during 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 purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at about $183,000. Finally, USS Investment Management Ltd lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 14.8% in the 3rd quarter. USS Investment Management Ltd now owns 266,874 shares of the company's stock valued at $24,678,000 after acquiring an additional 34,384 shares during the last quarter. Institutional investors own 92.26% of the company's stock.
Wall Street Analyst Weigh In
FWONK has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, September 9th. They issued a "buy" rating and a $115.00 target price on the stock. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "strong sell" rating to a "sell" rating in a report on Saturday, November 7th. Weiss Ratings downgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, UBS Group upped their price objective on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $118.44.
Check Out Our Latest Stock Report on Liberty Media Corporation - Liberty Formula One Series C
About Liberty Media Corporation - Liberty Formula One Series C
(
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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.
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