Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target Raised to $119.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price objective increased by Sanford C. Bernstein from $115.00 to $119.00 in a research report report published on Tuesday,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

FWONK has been the topic of a number of other research reports. Wells Fargo & Company increased their target price 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 note on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Bank of America upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, UBS Group reduced their price objective on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $100.00 on Tuesday. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The stock has a market cap of $22.41 billion, a PE ratio of 45.87 and a beta of 0.44. The firm has a 50 day simple moving average of $93.78 and a two-hundred day simple moving average of $89.78.

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 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. On average, research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 EPS for the current fiscal year.

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

In related news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction on 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 transaction, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on 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 approximately $8,518,459.68. The trade was a 51.45% decrease in their position. The SEC filing for this sale provides additional information. 4.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after purchasing an additional 841,729 shares during the period. Berkshire Hathaway Inc purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter worth $297,358,000. Braun Stacey Associates Inc. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.3% in the first quarter. Braun Stacey Associates Inc. now owns 276,480 shares of the company’s stock worth $23,506,000 after buying an additional 14,039 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 8.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,558 shares of the company’s stock valued at $21,231,000 after buying an additional 17,102 shares during the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 1st quarter valued at $1,522,000. 92.26% of the stock is owned by 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.