Liberty Media Corporation - Liberty Formula One Series C $FWONK Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management slightly reduced its stake in Liberty Media Formula One Series C (FWONK) by 0.3% in the fourth quarter, though it still held 8.56 million shares valued at about $843.2 million.
• Several insiders sold shares recently, including Director Chase Carey and insider Renee L. Wilm, both of whom reduced their ownership meaningfully through June transactions.
• Analysts remain mixed but constructive on the stock, with an average rating of Moderate Buy and a consensus price target of $111.75; the company also recently beat quarterly earnings and revenue estimates.

T. Rowe Price Investment Management Inc. lowered its stake in shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,559,125 shares of the company's stock after selling 27,136 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.42% of Liberty Media Corporation - Liberty Formula One Series C worth $843,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Invesco Ltd. grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company's stock valued at $52,701,000 after buying an additional 170,435 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $502,000. Daiwa Securities Group Inc. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 20.2% in the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company's stock valued at $3,902,000 after acquiring an additional 6,285 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $1,863,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $1,255,000. Hedge funds and other institutional investors own 92.26% of the company's stock.

Insider Transactions at Liberty Media Corporation - Liberty Formula One Series C

In related news, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the transaction, the director directly owned 94,356 shares of the company's stock, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.31% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FWONK. Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. UBS Group dropped their price target 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. Wells Fargo & Company lifted their price target 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 report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $111.00 and set an "overweight" rating for the company in a report on Friday, May 29th. 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. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and an average price target of $111.75.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Liberty Media Corporation - Liberty Formula One Series C stock opened at $90.76 on Friday. The business has a 50 day simple moving average of $89.41 and a 200-day simple moving average of $89.42. 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 capitalization of $20.34 billion, a PE ratio of 41.63 and a beta of 0.47.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates 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. As a group, equities research analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 EPS for the current year.

Liberty Media Corporation - Liberty Formula One Series C Company 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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