Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives $110.43 Average PT from Brokerages

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $111.1429.

A number of research firms have issued reports on FWONK. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their target price 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. 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. Bank of America raised their target price 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 note on Monday. Finally, UBS Group lowered their target price 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 report on Wednesday, April 15th.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK opened at $98.83 on Friday. The company has a 50-day simple moving average of $90.67 and a two-hundred day simple moving average of $89.48. The firm has a market capitalization of $22.15 billion, a PE ratio of 45.34 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its 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 firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. Analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation National Association UT grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock valued at $29,000 after buying an additional 188 shares during the last quarter. Advisory Services Network LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 70.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after purchasing an additional 175 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

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.