Traders Buy Large Volume of Put Options on Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK)

Key Points

• Unusual options activity: Traders bought 7,960 put options on Liberty Media Formula One Series C (NASDAQ:FWONK), nearly 20 times the average daily put volume.
• Insider selling: Two insiders recently sold shares, including Renee L. Wilm and Director Chase Carey, both reducing their ownership stakes significantly.
• Analyst and stock update: FWONK traded slightly lower at $102.07, while analysts currently hold a Moderate Buy consensus with a $111.14 average price target.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was the target of some unusual options trading on Monday. Traders acquired 7,960 put options on the company. This is an increase of approximately 1,941% compared to the average daily volume of 390 put options.

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

In other news, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in 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 valued at $52,701,000 after buying an additional 170,435 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at approximately $502,000. Daiwa Securities Group Inc. grew its holdings in shares of 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 worth $3,902,000 after purchasing an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth $1,863,000. Finally, Squarepoint Ops LLC purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at $1,255,000. Hedge funds and other institutional investors own 92.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FWONK shares. UBS Group decreased their price objective on shares of 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. Bank of America boosted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. decreased 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 report on Friday, May 29th. 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. Finally, Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.14.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

FWONK traded down $0.13 during midday trading on Monday, hitting $102.07. The stock had a trading volume of 320,809 shares, compared to its average volume of 2,074,426. Liberty Media Corporation - Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The business has a fifty day moving average of $92.33 and a 200 day moving average of $89.58. The company has a market cap of $22.87 billion, a P/E ratio of 46.82 and a beta of 0.44.

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