Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $112.3333.

A number of research firms have weighed in on FWONK. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th.

Insider Transactions at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 83,536 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the completion of the transaction, the director owned 94,356 shares in the company, valued at approximately $9,147,814.20. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,200 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $91.89, for a total value of $1,029,168.00. Following the completion of the sale, the insider directly owned 21,037 shares in the company, valued at approximately $1,933,089.93. This represents a 34.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 368,363 shares of company stock worth $36,650,423. Corporate insiders own 4.31% of the company’s stock.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

Several large investors have recently modified their holdings of FWONK. Squarepoint Ops LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $1,255,000. S Bank Fund Management Ltd bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $347,000. Allspring Global Investments Holdings LLC increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company’s stock worth $20,871,000 after purchasing an additional 10,620 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 79.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company’s stock worth $8,947,000 after purchasing an additional 38,054 shares during the period. Finally, Aviva PLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 7.4% in the 2nd quarter. Aviva PLC now owns 158,167 shares of the company’s stock worth $16,528,000 after purchasing an additional 10,932 shares during the period. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 1.4%

NASDAQ:FWONK opened at $91.40 on Friday. The company has a 50-day moving average price of $96.55 and a 200-day moving average price of $99.80. The stock has a market cap of $22.85 billion, a price-to-earnings ratio of 117.18 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. Equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

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.