Wells Fargo & Company Issues Positive Forecast for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price raised by Wells Fargo & Company from $86.00 to $94.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

FWONK has been the subject of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Tuesday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Zacks Research lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. The Goldman Sachs Group restated a “buy” rating and set a $120.00 price target on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Tuesday, July 22nd. Finally, Guggenheim upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.11.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock traded down $1.22 during trading hours on Thursday, hitting $102.00. 1,899,612 shares of the company were exchanged, compared to its average volume of 1,554,471. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 132.33 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $75.26 and a one year high of $109.36. The business’s 50-day simple moving average is $101.40 and its two-hundred day simple moving average is $99.55.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.18). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $102.44, for a total transaction of $397,979.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 5,651 shares of company stock valued at $572,250. Corporate insiders own 4.31% of the company’s stock.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Formula One Series C

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GW&K Investment Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the first quarter worth $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $29,000. Headlands Technologies LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at about $38,000. Osterweis Capital Management Inc. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at about $39,000. Finally, Root Financial Partners LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at about $41,000. 92.26% of the stock is owned by institutional investors and hedge funds.

About Liberty Media Corporation – Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.