Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives $118.00 Consensus Target Price from Analysts

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $118.00.

Several equities analysts recently issued reports on FWONK shares. Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wells Fargo & Company raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Finally, Guggenheim lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 17th.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.6%

FWONK stock opened at $106.66 on Friday. The firm has a 50 day moving average of $98.12 and a 200-day moving average of $91.36. 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 $23.93 billion, a price-to-earnings ratio of 156.85 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $952.78 million. Sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2 earnings per share for the current fiscal year.

Insider Activity

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 dated Wednesday, May 27th. The shares were 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 legal filing with the SEC, which is accessible through this link. Also, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction 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 position. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Zions Bancorporation National Association UT grew its holdings in Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the 4th 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. Allied Private Wealth LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth $32,000. Advisory Services Network LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth $34,000. Headlands Technologies LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $38,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $39,000. 92.26% of the stock is owned by hedge funds and other 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.