Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Director Chase Carey Sells 150,000 Shares of Stock

Key Points

• Director Chase Carey sold 150,000 FWONK shares at an average $107.86, worth about $16.18 million; the sale reduced his direct holdings by 61.39% to 94,356 shares.
• The article also reports two additional Carey sales of 137,000 and 137,331 shares, at average prices of $108.91 and $110.14, respectively.
• FWONK traded at $109.44, while analysts’ consensus was “Moderate Buy” with an average price target of $118.44.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) Director Chase Carey sold 150,000 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $107.86, for a total value of $16,179,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at approximately $10,177,238.16. This represents a 61.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chase Carey also recently made the following trade(s):

• On Wednesday, November 11th, Chase Carey sold 137,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The shares were sold at an average price of $108.91, for a total value of $14,920,670.00.
• On Thursday, November 12th, Chase Carey sold 137,331 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The stock was sold at an average price of $110.14, for a total value of $15,125,636.34.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

FWONK traded down $1.73 on Thursday, hitting $109.44. The company had a trading volume of 2,534,443 shares, compared to its average volume of 2,181,440. The stock has a market cap of $24.56 billion, a price-to-earnings ratio of 125.79 and a beta of 0.46. The company's fifty day moving average price is $95.13 and its 200 day moving average price is $92.50. Liberty Media Corporation - Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $111.66.

Institutional Trading of Liberty Media Corporation - Liberty Formula One Series C

A number of hedge funds have recently bought and sold shares of the stock. MGO One Seven LLC increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.4% during the 3rd quarter. MGO One Seven LLC now owns 8,456 shares of the company's stock worth $781,000 after purchasing an additional 113 shares during the period. Yousif Capital Management LLC raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 4.2% during the third quarter. Yousif Capital Management LLC now owns 3,034 shares of the company's stock valued at $280,000 after buying an additional 123 shares during the last quarter. Parcion Private Wealth LLC raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 6.4% during the third quarter. Parcion Private Wealth LLC now owns 2,550 shares of the company's stock valued at $236,000 after buying an additional 153 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 18.8% in the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock valued at $104,000 after buying an additional 178 shares during the period. Finally, NewEdge Wealth LLC lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.3% in the first quarter. NewEdge Wealth LLC now owns 6,142 shares of the company's stock valued at $522,000 after buying an additional 196 shares during the period. 92.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FWONK shares. Jefferies Financial Group began coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Wednesday, September 9th. They issued a "buy" rating and a $115.00 price objective for the company. Weiss Ratings lowered shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. UBS Group raised their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Wells Fargo & Company lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $96.00 to $113.00 and gave the stock an "equal weight" rating in a report on Friday, November 6th. Finally, TD Cowen boosted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $118.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $118.44.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

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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