Wells Fargo & Company Cuts Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target to $96.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price decreased by Wells Fargo & Company from $105.00 to $96.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on FWONK. Guggenheim raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 8th. 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 company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and an average target price of $116.29.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.9%

Shares of NASDAQ FWONK opened at $91.60 on Tuesday. The business has a 50-day moving average of $98.55 and a 200-day moving average of $93.27. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 134.71 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share 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. On average, analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2 earnings per share for the current year.

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

Large investors have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 22.5% during the second quarter. QRG Capital Management Inc. now owns 8,038 shares of the company’s stock valued at $765,000 after buying an additional 1,477 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $39,000. Junto Capital Management LP increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after acquiring an additional 645,996 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 60.4% during the second quarter. Tidal Investments LLC now owns 9,868 shares of the company’s stock worth $939,000 after acquiring an additional 3,714 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C represents a non-voting tracking stock associated with the company’s Formula One Group. The group’s principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship’s commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.