Wells Fargo & Company Lowers Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target to $89.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price objective decreased by research analysts at Wells Fargo & Company from $95.00 to $89.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.42% from the stock’s current price.

Other analysts have also issued research reports about the company. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and increased their price target for the company from $110.00 to $111.00 in a report on Monday, January 12th. JPMorgan Chase & Co. reduced their target price on Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Friday, March 27th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.11.

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

NASDAQ:FWONK traded down $0.15 during midday trading on Tuesday, hitting $86.06. 70,172 shares of the company traded hands, compared to its average volume of 2,087,495. The firm’s fifty day moving average is $86.06 and its 200-day moving average is $93.37. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $75.26 and a 12-month high of $109.36. The firm has a market capitalization of $19.28 billion, a P/E ratio of 39.11, a P/E/G ratio of 15.51 and a beta of 0.53.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

A number of hedge funds and other institutional investors have recently bought and sold shares of FWONK. Silver Point Capital L.P. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $302,000. Berkshire Hathaway Inc bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $297,358,000. Naya Capital Management UK Ltd. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $208,238,000. Norges Bank bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $195,762,000. Finally, Cantillon Capital Management LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth $121,803,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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.