Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) have received an average recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $110.4286.

FWONK has been the topic of a number of recent analyst reports. UBS Group reduced their price target 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 note on Wednesday, April 15th. Wall Street Zen raised Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. dropped their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Weiss Ratings upgraded 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. Finally, Wells Fargo & Company raised 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.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of NASDAQ FWONK opened at $98.50 on Friday. The company has a market cap of $22.07 billion, a PE ratio of 45.18 and a beta of 0.44. 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 company has a 50-day simple moving average of $90.04 and a 200-day simple moving average of $89.42.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, analysts anticipate 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, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the sale, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.31% of the company’s stock.

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

A number of hedge funds have recently made changes to their positions in FWONK. Vanguard Group Inc. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock worth $2,081,841,000 after buying an additional 715,525 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock valued at $1,250,671,000 after acquiring an additional 129,822 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after acquiring an additional 302,191 shares during the last quarter. Schroder Investment Management Group grew its position in Liberty Media Corporation – Liberty Formula One Series C by 2.1% during the third quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock valued at $923,656,000 after acquiring an additional 186,077 shares during the period. Finally, Silver Point Capital L.P. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter valued at about $302,000. Institutional investors and hedge funds 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.