Wall Street Zen Upgrades Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) to Sell

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

FWONK has been the topic of a number of other reports. JPMorgan Chase & Co. lifted 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 note on Friday, August 7th. Jefferies Financial Group initiated coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, September 9th. They set a “buy” rating and a $115.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, July 29th. UBS Group lifted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company reduced their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.29.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $91.20 on Friday. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 134.12 and a beta of 0.46. The stock has a 50 day moving average of $98.43 and a 200 day moving average of $93.30. 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 issued 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 during the quarter, compared to analyst estimates of $952.78 million. As a group, equities research 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWONK. QRG Capital Management Inc. lifted its holdings 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 purchasing an additional 1,477 shares during the last quarter. Anchor Investment Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the second 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 second quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock worth $162,431,000 after purchasing an additional 1,093,372 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after purchasing an additional 645,996 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 60.4% in the second quarter. Tidal Investments LLC now owns 9,868 shares of the company’s stock valued at $939,000 after purchasing an additional 3,714 shares during the period. 92.26% of the stock is currently owned by institutional investors.

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.