Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives $111.75 Average Price Target from Brokerages

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $111.75.

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. cut their price objective on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. UBS Group cut their price objective on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $88.93 on Monday. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36. The firm has a market capitalization of $19.93 billion, a PE ratio of 40.79 and a beta of 0.47. The stock has a fifty day simple moving average of $89.16 and a two-hundred day simple moving average of $89.59.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million. On average, sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction dated 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 $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FWONK. Zions Bancorporation National Association UT grew its position 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 purchasing an additional 188 shares in the last quarter. Advisory Services Network LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $34,000. Headlands Technologies LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $38,000. Osterweis Capital Management Inc. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Liberty Media Corporation – Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after acquiring an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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.