Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) posted its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09, FiscalAI reports. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.0%

Shares of FWONK traded up $0.97 during trading hours on Friday, reaching $94.45. 2,735,688 shares of the stock traded hands, compared to its average volume of 1,955,112. The company has a market cap of $21.17 billion, a price-to-earnings ratio of 43.33, a PEG ratio of 17.12 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The stock has a fifty day simple moving average of $86.78 and a 200 day simple moving average of $91.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FWONK shares. 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. JPMorgan Chase & Co. reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company raised their price target 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. Finally, 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 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.67.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

Several hedge funds have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 79.3% in the fourth quarter. GW&K Investment Management LLC now owns 649 shares of the company’s stock worth $64,000 after purchasing an additional 287 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $84,000. Johnson Financial Group Inc. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 517.0% in the third quarter. Johnson Financial Group Inc. now owns 617 shares of the company’s stock worth $64,000 after purchasing an additional 517 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $126,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 30.4% in the second quarter. Geneos Wealth Management Inc. now owns 833 shares of the company’s stock worth $87,000 after purchasing an additional 194 shares in the last quarter. 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.