Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives $111.67 Average Price Target from Analysts

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $111.6667.

Several research analysts have recently commented on the company. 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 report on Wednesday, April 15th. 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. Wall Street Zen lowered Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a report on Sunday. Wells Fargo & Company lifted 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 report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target 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 report on Thursday, March 19th.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 1.6%

Shares of FWONK opened at $90.99 on Thursday. 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 firm’s fifty day moving average is $87.28 and its two-hundred day moving average is $90.86. The stock has a market cap of $20.39 billion, a PE ratio of 41.74 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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. As a group, research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised 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 acquiring an additional 715,525 shares during the period. Principal Financial Group Inc. raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock valued at $1,250,671,000 after buying an additional 129,822 shares during the period. Janus Henderson Group PLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after buying an additional 302,191 shares during the period. Schroder Investment Management Group raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.1% in the 3rd quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock valued at $923,656,000 after buying 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 in the 4th quarter valued at about $302,000. 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.