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

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $111.75.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. UBS Group reduced their target price on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings raised 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. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $87.68 on Monday. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36. The stock’s 50-day moving average price is $88.67 and its 200-day moving average price is $89.78. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 40.22 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. As a group, research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated 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 owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banco Santander S.A. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at approximately $1,685,000. JPMorgan Chase & Co. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock valued at $37,375,000 after purchasing an additional 89,673 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.6% in the third quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock valued at $2,132,636,000 after purchasing an additional 117,804 shares during the period. ShawSpring Partners LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter valued at approximately $22,720,000. Finally, Tredje AP fonden boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 56.4% in the third quarter. Tredje AP fonden now owns 32,580 shares of the company’s stock valued at $3,403,000 after purchasing an additional 11,750 shares during the period. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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.