Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) from a sell rating to a strong sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Bank of America raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. UBS Group boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Wells Fargo & Company cut their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 29th. JPMorgan Chase & Co. increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Guggenheim increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has an average rating of “Moderate Buy” and a consensus price target of $116.29.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 0.8%

FWONK opened at $93.02 on Friday. The business’s fifty day simple moving average is $97.80 and its 200 day simple moving average is $93.82. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $107.31. The stock has a market cap of $20.87 billion, a PE ratio of 137.96 and a beta of 0.46.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $952.78 million. As a group, equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FWONK. Cooper Investors PTY Ltd. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 167.4% in the 3rd quarter. Cooper Investors PTY Ltd. now owns 312,499 shares of the company’s stock valued at $28,875,000 after acquiring an additional 195,639 shares during the last quarter. Lincoln Capital LLC boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 4.0% during the 3rd quarter. Lincoln Capital LLC now owns 87,968 shares of the company’s stock valued at $8,150,000 after acquiring an additional 3,373 shares during the period. GAMMA Investing LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 43.8% during the 3rd quarter. GAMMA Investing LLC now owns 5,020 shares of the company’s stock worth $464,000 after acquiring an additional 1,528 shares during the last quarter. Farther Finance Advisors LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 18.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock worth $104,000 after acquiring an additional 178 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth approximately $217,000. 92.26% of the stock is owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C represents a non-voting tracking stock associated with the company’s Formula One Group. The group’s principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship’s commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.