Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Insider Sells $1,029,168.00 in Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) insider Renee Wilm sold 11,200 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $91.89, for a total value of $1,029,168.00. Following the transaction, the insider owned 21,037 shares of the company’s stock, valued at $1,933,089.93. The trade was a 34.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.1%

NASDAQ:FWONK traded down $0.14 on Monday, reaching $101.86. 1,711,349 shares of the stock traded hands, compared to its average volume of 1,609,608. The company’s fifty day simple moving average is $101.44 and its 200 day simple moving average is $99.85. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 130.59 and a beta of 0.46.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.18). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. Equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FWONK shares. Zacks Research cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. increased 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 report on Thursday, August 21st. The Goldman Sachs Group restated a “buy” rating and issued a $120.00 target price on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Tuesday, October 14th. Finally, Guggenheim increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FWONK. Vanguard Group Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock worth $2,132,636,000 after acquiring an additional 117,804 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.9% during the 2nd 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 last quarter. Geode Capital Management LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company’s stock valued at $400,694,000 after acquiring an additional 126,501 shares during the last quarter. Bank of America Corp DE increased its position in Liberty Media Corporation – Liberty Formula One Series C by 3.8% during the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company’s stock worth $278,594,000 after buying an additional 98,354 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $208,588,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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.