Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target Raised to $125.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price boosted by Guggenheim from $124.00 to $125.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Weiss Ratings raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Bank of America raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. UBS Group decreased their price objective on shares of 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 increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $98.13 on Wednesday. The business has a fifty day moving average of $93.97 and a 200 day moving average of $89.83. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 45.01 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its 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 firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. As a group, equities research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the sale, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the sale, the director directly owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.31% of the company’s stock.

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

Institutional investors have recently bought and sold shares of the company. Silver Point Capital L.P. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at approximately $302,000. Berkshire Hathaway Inc purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth about $297,358,000. Naya Capital Management UK Ltd. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at about $208,238,000. Norges Bank acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter valued at about $195,762,000. Finally, Bank of America Corp DE raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 43.2% in the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after acquiring an additional 1,376,984 shares in the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

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.