Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price Target Raised at Wells Fargo & Company

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target raised by Wells Fargo & Company from $96.00 to $113.00 in a research report report published on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on FWONK. Guggenheim boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Zacks Research lowered Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 29th. Jefferies Financial Group assumed coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, September 9th. They issued a “buy” rating and a $115.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, UBS Group raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.62.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 0.2%

Liberty Media Corporation – Liberty Formula One Series C stock traded down $0.19 during mid-day trading on Friday, reaching $106.33. 3,445,435 shares of the company’s stock were exchanged, compared to its average volume of 2,341,325. The business’s fifty day simple moving average is $94.54 and its 200 day simple moving average is $92.18. The firm has a market capitalization of $23.85 billion, a PE ratio of 122.22 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $108.35.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. On average, sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently modified their holdings of FWONK. Resona Asset Management Co. Ltd. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 21.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 97,236 shares of the company’s stock worth $8,248,000 after acquiring an additional 17,405 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.5% during the 2nd quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company’s stock valued at $29,860,000 after acquiring an additional 37,375 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock valued at $505,297,000 after acquiring an additional 645,996 shares during the last quarter. Junto Capital Management LP grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the second quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock worth $162,431,000 after acquiring an additional 1,093,372 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.4% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 951,369 shares of the company’s stock valued at $80,885,000 after purchasing an additional 65,598 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Trending Headlines about Liberty Media Corporation – Liberty Formula One Series C

Here are the key news stories impacting Liberty Media Corporation – Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.