Liberty Media Corporation - Liberty Formula One Series C $FWONK Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co cut its stake in Liberty Media Formula One Series C (NASDAQ: FWONK) by 73.4% in the first quarter, leaving it with 6,680 shares valued at about $568,000.
• The company recently posted better-than-expected quarterly results, reporting $0.03 EPS versus an expected loss and revenue of $711 million versus estimates of $683.42 million.
• Analyst sentiment remains mixed but cautious: the stock has an average Hold rating with a consensus target price of $110.43, while several insiders also sold shares in recent transactions.

Diversified Trust Co reduced its position in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 73.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,680 shares of the company's stock after selling 18,388 shares during the quarter. Diversified Trust Co's holdings in Liberty Media Corporation - Liberty Formula One Series C were worth $568,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Zions Bancorporation National Association UT increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after purchasing an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the 3rd quarter worth about $34,000. Headlands Technologies LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth approximately $38,000. Osterweis Capital Management Inc. purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock valued at $42,000 after purchasing an additional 175 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 0.5%

NASDAQ:FWONK opened at $90.45 on Friday. The stock has a 50 day moving average of $89.46 and a two-hundred day moving average of $89.31. 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 firm has a market cap of $20.27 billion, a P/E ratio of 41.49 and a beta of 0.47.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analysts' expectations of $683.42 million. On average, research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FWONK shares. 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. UBS Group decreased 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 report on Wednesday, April 15th. JPMorgan Chase & Co. dropped their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $111.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Wells Fargo & Company boosted their price target on shares of 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. Finally, Weiss Ratings upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $110.43.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on 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 sale, the insider owned 15,590 shares of the company's stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on 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 sale, the director directly 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 SEC filing for this sale provides additional information. 4.31% of the stock is currently owned by corporate insiders.

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.

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