Liberty Media Corporation – Liberty Formula One Series C (FWONK) Projected to Post Earnings on Thursday

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) will likely be announcing its results before the market opens on Thursday, February 26th. Analysts expect the company to announce earnings of $0.47 per share and revenue of $1.5491 billion for the quarter.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $89.43 on Thursday. The business’s fifty day moving average price is $91.32 and its 200 day moving average price is $96.69. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $75.26 and a 1-year high of $109.36. The firm has a market capitalization of $22.36 billion, a PE ratio of 114.66 and a beta of 0.48.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their target price 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 research report on Thursday, November 6th. Weiss Ratings reissued 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. upped their target price on shares of 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. 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 increased their target price for the company from $110.00 to $111.00 in a report on Monday, January 12th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $112.20.

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

In related 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 value of $8,098,815.20. Following the transaction, the director owned 94,356 shares in the company, valued at approximately $9,147,814.20. This trade represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.31% of the stock is currently owned by insiders.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock valued at $52,701,000 after purchasing an additional 170,435 shares in the last quarter. Cresset Asset Management LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $502,000. Daiwa Securities Group Inc. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% during the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after purchasing an additional 6,285 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $1,863,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at about $1,255,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.