Liberty Media Corporation – Liberty Formula One Series C $FWONK Shares Sold by MAI Capital Management

MAI Capital Management cut its stake in Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) by 43.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 51,833 shares of the company’s stock after selling 39,342 shares during the quarter. MAI Capital Management’s holdings in Liberty Media Corporation – Liberty Formula One Series C were worth $5,414,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.1% during the third quarter. TD Asset Management Inc now owns 1,127,282 shares of the company’s stock valued at $117,745,000 after acquiring an additional 23,470 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 6.1% in the third quarter. Compound Planning Inc. now owns 2,094 shares of the company’s stock worth $219,000 after acquiring an additional 121 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.9% during the third quarter. Clearstead Advisors LLC now owns 10,171 shares of the company’s stock worth $1,062,000 after purchasing an additional 187 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 0.8% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 62,609 shares of the company’s stock valued at $6,540,000 after purchasing an additional 477 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 3.7% in the 3rd quarter. Citigroup Inc. now owns 154,364 shares of the company’s stock valued at $16,123,000 after purchasing an additional 5,492 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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

In related news, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the completion of the sale, the director directly owned 94,356 shares in the company, valued at approximately $9,147,814.20. This trade represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.31% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 3.1%

Shares of FWONK opened at $86.54 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $75.26 and a 52-week high of $109.36. The stock has a fifty day simple moving average of $90.52 and a two-hundred day simple moving average of $96.31. The company has a market capitalization of $21.64 billion, a PE ratio of 110.95 and a beta of 0.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 29th. Wells Fargo & Company raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $110.00 to $111.00 in a report on Monday, January 12th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.20.

About Liberty Media Corporation – Liberty Formula One Series C

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.