Wells Fargo & Company Forecasts Strong Price Appreciation for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price objective increased by stock analysts at Wells Fargo & Company from $96.00 to $113.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.27% from the company’s previous close.

A number of other research analysts have also recently commented on FWONK. UBS Group raised their price target 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. Guggenheim increased their price objective on shares of 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. Susquehanna reduced their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating on the stock in a research note on Friday, October 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, July 29th. Finally, Zacks Research cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 29th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and a consensus target price of $117.62.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.2%

Shares of FWONK stock opened at $106.33 on Friday. The stock has a market cap of $23.85 billion, a P/E ratio of 122.22 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $108.35. The stock has a 50 day simple moving average of $94.54 and a 200 day simple moving average of $92.18.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2.01 EPS for the current year.

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

A number of institutional investors have recently modified their holdings of FWONK. Bank of America Corp DE grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after purchasing an additional 1,376,984 shares during the last quarter. Junto Capital Management LP lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock valued at $162,431,000 after purchasing an additional 1,093,372 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company’s stock valued at $396,626,000 after purchasing an additional 981,047 shares during the last quarter. Engineers Gate Manager LP lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 893.8% in the 2nd quarter. Engineers Gate Manager LP now owns 1,049,351 shares of the company’s stock valued at $99,835,000 after purchasing an additional 943,757 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 58.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock valued at $202,919,000 after buying an additional 819,363 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C News Summary

Here are the key news stories impacting Liberty Media Corporation – Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.