Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target Lowered to $111.00 at JPMorgan Chase & Co.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price reduced by JPMorgan Chase & Co. from $115.00 to $111.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

FWONK has been the subject of several other research reports. Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. UBS Group reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.22.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 0.3%

FWONK opened at $90.79 on Friday. The firm has a market capitalization of $20.35 billion, a P/E ratio of 41.65 and a beta of 0.44. The firm’s 50 day moving average is $88.13 and its 200-day moving average is $90.29. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. Equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Chase Carey sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the transaction, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FWONK. Invesco Ltd. raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after acquiring an additional 170,435 shares in the last quarter. Cresset Asset Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $502,000. Daiwa Securities Group Inc. boosted its holdings in 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 buying an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $1,863,000. Finally, Squarepoint Ops LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth 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.