Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) from a hold rating to a sell rating in a report released on Sunday.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company lifted their price objective 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. 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. JPMorgan Chase & Co. reduced their target price on Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Finally, 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 research report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and an average target price of $111.67.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $89.54 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 41.07 and a beta of 0.44. The business’s 50 day moving average price is $87.14 and its 200 day moving average price is $90.89.

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 EPS 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 analysts’ expectations of $683.42 million. On average, analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the first quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company’s stock valued at $396,626,000 after purchasing an additional 981,047 shares during the period. Hawk Ridge Capital Management LP raised its position in Liberty Media Corporation – Liberty Formula One Series C by 38.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,849,660 shares of the company’s stock valued at $157,258,000 after purchasing an additional 518,300 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 55.5% in the 1st quarter. Quantinno Capital Management LP now owns 310,148 shares of the company’s stock valued at $26,369,000 after buying an additional 110,669 shares during the period. Southpoint Capital Advisors LP purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 1st quarter valued at $51,012,000. Finally, Clough Capital Partners L P raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 7.9% in the 1st quarter. Clough Capital Partners L P now owns 39,034 shares of the company’s stock valued at $3,319,000 after buying an additional 2,860 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.