JPMorgan Chase & Co. 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 target hoisted by analysts at JPMorgan Chase & Co. from $124.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 21.55% from the company’s previous close.

Several other equities research analysts have also recently issued reports on FWONK. Guggenheim raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Bank of America upped their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Sanford C. Bernstein increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 3.2%

Shares of Liberty Media Corporation – Liberty Formula One Series C stock traded up $3.15 during mid-day trading on Friday, hitting $102.84. The stock had a trading volume of 683,617 shares, compared to its average volume of 2,062,752. The firm has a 50-day moving average of $94.54 and a two-hundred day moving average of $90.04. The firm has a market cap of $23.05 billion, a P/E ratio of 47.06 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36.

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 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The firm had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $952.78 million. Sell-side analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 earnings per share for the current year.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after buying an additional 188 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $32,000. Advisory Services Network LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $34,000. Headlands Technologies LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $38,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $39,000. 92.26% of the stock is currently owned by institutional investors.

About Liberty Media Corporation – Liberty Formula One Series C

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.