Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $111.00 to $124.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 27.89% from the company’s current price.

Several other research firms have also recently commented on FWONK. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Wells Fargo & Company increased 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 note on Friday, May 8th. Weiss Ratings upgraded 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. 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 for the company in a research note on Wednesday, April 15th. Finally, Bank of America increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $110.20.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Liberty Media Corporation – Liberty Formula One Series C stock opened at $96.96 on Tuesday. 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 has a market capitalization of $21.73 billion, a P/E ratio of 44.48 and a beta of 0.44. The firm’s 50-day moving average is $92.71 and its two-hundred day moving average is $89.58.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping 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. As a group, analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

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

In other news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated 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 directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Chase Carey sold 100,000 shares of the business’s 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 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 SEC filing for this sale provides additional information. Company insiders own 4.31% of the company’s stock.

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

Several institutional investors have recently bought and sold shares of FWONK. Zions Bancorporation National Association UT raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock valued at $29,000 after acquiring an additional 188 shares during the period. Allied Private Wealth LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $32,000. Advisory Services Network LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $38,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $39,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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.