Liberty Media Formula One Series C (FWONK) Receives $43.33 Average PT from Brokerages

Shares of Liberty Media Formula One Series C (NASDAQ:FWONK) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.33.

Several equities analysts recently weighed in on FWONK shares. ValuEngine cut shares of Liberty Media Formula One Series C from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of Liberty Media Formula One Series C from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, October 10th. Finally, Goldman Sachs Group started coverage on shares of Liberty Media Formula One Series C in a research note on Tuesday, October 9th. They set a “neutral” rating and a $39.00 target price for the company.

Shares of NASDAQ FWONK traded down $0.69 during midday trading on Friday, reaching $33.85. The stock had a trading volume of 958,200 shares, compared to its average volume of 1,317,208. The stock has a market cap of $8.59 billion, a PE ratio of 27.98 and a beta of 1.41. Liberty Media Formula One Series C has a 12-month low of $28.37 and a 12-month high of $41.14.

Liberty Media Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. The firm had revenue of $585.00 million during the quarter, compared to analysts’ expectations of $602.28 million. On average, sell-side analysts expect that Liberty Media Formula One Series C will post -0.25 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Liberty Media Formula One Series C by 2.7% during the second quarter. BlackRock Inc. now owns 9,328,946 shares of the company’s stock valued at $346,384,000 after purchasing an additional 246,227 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Liberty Media Formula One Series C by 34.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,235,215 shares of the company’s stock worth $268,622,000 after acquiring an additional 1,866,836 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Liberty Media Formula One Series C by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 6,516,650 shares of the company’s stock worth $201,038,000 after acquiring an additional 47,206 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Liberty Media Formula One Series C by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 3,810,456 shares of the company’s stock worth $141,482,000 after acquiring an additional 87,982 shares during the last quarter. Finally, Naya Capital Management UK Ltd. lifted its holdings in shares of Liberty Media Formula One Series C by 26.4% in the 2nd quarter. Naya Capital Management UK Ltd. now owns 2,404,112 shares of the company’s stock worth $89,265,000 after acquiring an additional 502,000 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

About Liberty Media Formula One Series C

Formula One Group, through its subsidiaries, engages in the media and entertainment businesses in North America. Formula One Group was formerly known as The Liberty Media Group. The company is based in Englewood, Colorado. Formula One Group is a former subsidiary of Liberty Media Corporation.

Further Reading: Buyback For Investors Defined

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