Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $112.20.

A number of equities analysts have recently issued reports on FWONK shares. JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 29th. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $110.00 to $111.00 in a research note on Monday, January 12th.

Insider Activity

In related news, insider Renee L. Wilm sold 11,200 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $91.89, for a total transaction of $1,029,168.00. Following the completion of the sale, the insider owned 21,037 shares of the company’s stock, valued at $1,933,089.93. This trade represents a 34.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chase Carey sold 109,121 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $102.54, for a total value of $11,189,267.34. Following the completion of the sale, the director owned 93,102 shares of the company’s stock, valued at approximately $9,546,679.08. The trade was a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 368,363 shares of company stock valued at $36,650,423.

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

Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at $34,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $38,000. Osterweis Capital Management Inc. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at about $39,000. Root Financial Partners LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $46,000. Institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK opened at $85.50 on Tuesday. The firm has a market cap of $21.38 billion, a PE ratio of 109.62 and a beta of 0.48. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $75.26 and a 52 week high of $109.36. The firm’s fifty day moving average is $93.13 and its 200-day moving average is $98.03.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Wednesday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.18). The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current 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.