Bank of America Issues Positive Forecast for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price upped by Bank of America from $105.00 to $115.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. UBS Group dropped 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 research report on Wednesday, April 15th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wells Fargo & Company increased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 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. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.14.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.9%

Shares of FWONK stock opened at $99.84 on Monday. The company has a market cap of $22.37 billion, a P/E ratio of 45.59 and a beta of 0.44. The business has a 50 day moving average of $90.46 and a two-hundred day moving average of $89.46. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director owned 94,356 shares of the company’s stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the transaction, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after acquiring an additional 841,729 shares in the last quarter. Berkshire Hathaway Inc bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at about $297,358,000. JPMorgan Chase & Co. grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock worth $37,375,000 after purchasing an additional 89,673 shares during the last quarter. ShawSpring Partners LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $22,720,000. Finally, Diversified Trust Co. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter valued at approximately $2,469,000. 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.