Jefferies Financial Group Initiates Coverage on Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK)

Jefferies Financial Group assumed coverage on shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $115.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 19.47% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Guggenheim raised their target price 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. JPMorgan Chase & Co. raised their price objective 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 note on Friday, August 7th. UBS Group upped 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 report on Friday, August 7th. Bank of America raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.57.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 1.4%

Shares of Liberty Media Corporation – Liberty Formula One Series C stock traded up $1.31 during trading on Wednesday, reaching $96.26. The company’s stock had a trading volume of 78,982 shares, compared to its average volume of 2,029,060. The business’s 50-day moving average price is $99.88 and its 200-day moving average price is $92.36. The firm has a market cap of $21.59 billion, a PE ratio of 141.10 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week 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 analysts’ consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $952.78 million. Equities analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2 earnings per share for the current year.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the sale, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Formula One Series C

Several hedge funds have recently added to or reduced their stakes in FWONK. California State Teachers Retirement System raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 9,400.5% during the second quarter. California State Teachers Retirement System now owns 34,777,666 shares of the company’s stock valued at $3,308,747,000 after acquiring an additional 34,411,605 shares during the last quarter. Silver Point Capital L.P. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at $302,000. Berkshire Hathaway Inc bought a new position in 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 Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth $208,238,000. Finally, Norges Bank acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth about $195,762,000. 92.26% of the stock is currently 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.