Insider Selling: Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Director Sells 898 Shares of Stock

Key Points

• Director Malcolm Ian Grant Gilchrist sold 898 shares of Liberty Media Corporation - Liberty Formula One Series C, decreasing his ownership by 33.52% and totaling $89,979.60.
• After recent trades, the stock price of FWONK saw a 2.6% decline, bringing the share price to $98.87 as of mid-day trading on September 8th.
• Liberty Media Corporation recently reported $1.52 EPS for the quarter, outperforming analysts' estimates, and has received multiple upgrades from research analysts, raising its average target price to $111.22.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) Director Malcolm Ian Grant Gilchrist sold 898 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $100.20, for a total value of $89,979.60. Following the completion of the transaction, the director directly owned 1,781 shares in the company, valued at $178,456.20. This trade represents a 33.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Malcolm Ian Grant Gilchrist also recently made the following trade(s):

• On Wednesday, August 27th, Malcolm Ian Grant Gilchrist sold 868 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The shares were sold at an average price of $97.11, for a total value of $84,291.48.
• On Monday, August 25th, Malcolm Ian Grant Gilchrist sold 3,885 shares of Liberty Media Corporation - Liberty Formula One Series C stock. The shares were sold at an average price of $102.44, for a total value of $397,979.40.

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

NASDAQ:FWONK traded down $0.51 during trading hours on Monday, hitting $98.93. The company's stock had a trading volume of 1,126,173 shares, compared to its average volume of 901,016. The stock has a market capitalization of $22.12 billion, a P/E ratio of 96.99 and a beta of 0.46. The stock has a fifty day moving average of $100.82 and a 200-day moving average of $95.22. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $74.34 and a 52-week high of $106.26.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.28 billion. On average, sell-side analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Several hedge funds have recently made changes to their positions in FWONK. Norges Bank acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $208,588,000. Munro Partners acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $111,340,000. Schroder Investment Management Group boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 4.9% during the second quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company's stock worth $904,653,000 after buying an additional 402,705 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 2,625.1% during the second quarter. Balyasny Asset Management L.P. now owns 220,733 shares of the company's stock worth $23,067,000 after buying an additional 212,633 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 51.0% during the second quarter. Invesco Ltd. now owns 504,313 shares of the company's stock worth $52,701,000 after buying an additional 170,435 shares during the period. Institutional investors and hedge funds own 92.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Guggenheim upped their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group restated a "buy" rating and issued a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. Sanford C. Bernstein upgraded shares of Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $108.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $111.22.

About Liberty Media Corporation - Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.