Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Sets New 12-Month High – Time to Buy?

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) hit a new 52-week high during trading on Thursday. The company traded as high as $108.35 and last traded at $105.6310, with a volume of 1,240,893 shares. The stock had previously closed at $98.93.

Key Headlines Impacting 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

Analysts Set New Price Targets

Several research analysts have recently issued reports on FWONK shares. Sanford C. Bernstein upped their target price on shares of 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. UBS Group raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and an average price target of $117.62.

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

The firm has a market cap of $23.85 billion, a PE ratio of 122.22 and a beta of 0.46. The business has a 50 day simple moving average of $94.54 and a two-hundred day simple moving average of $92.18.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results 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 analysts’ expectations of $1.24 billion. Equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 2.9% during the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after acquiring an additional 302,191 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in 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 worth $505,297,000 after purchasing an additional 645,996 shares during the period. Bank of America Corp DE raised its position in Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after acquiring an additional 1,376,984 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 58.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock valued at $202,919,000 after purchasing an additional 819,363 shares during the period. Finally, Junto Capital Management LP grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 178.1% during the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock valued at $162,431,000 after acquiring an additional 1,093,372 shares during the period. Institutional investors own 92.26% of the company’s stock.

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C tracking stock represents an economic interest in the company’s Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport’s international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.