Stock Traders Purchase Large Volume of Put Options on Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK)

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) saw unusually large options trading on Monday. Traders purchased 7,960 put options on the stock. This is an increase of 1,941% compared to the average volume of 390 put options.

Wall Street Analyst Weigh In

FWONK has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Weiss Ratings raised 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. JPMorgan Chase & Co. reduced 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 research report on Friday, May 29th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, UBS Group decreased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.14.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.31% of the company’s stock.

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

Large investors have recently made changes to their positions in the business. Silver Point Capital L.P. bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at approximately $302,000. Berkshire Hathaway Inc purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter valued at $297,358,000. Naya Capital Management UK Ltd. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth $208,238,000. Norges Bank bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth $195,762,000. Finally, Bank of America Corp DE grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% in the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after acquiring an additional 1,376,984 shares during the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of FWONK stock traded down $0.13 during mid-day trading on Monday, reaching $102.07. 320,809 shares of the company’s stock traded hands, compared to its average volume of 2,074,426. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The company has a market cap of $22.87 billion, a P/E ratio of 46.82 and a beta of 0.44. The company’s 50-day moving average price is $92.33 and its 200-day moving average price is $89.58.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. Equities analysts predict 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.