Wells Fargo & Company Issues Positive Forecast for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price lifted by equities research analysts at Wells Fargo & Company from $97.00 to $105.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.70% from the company’s current price.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded 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. Bank of America boosted their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Guggenheim increased their price objective on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Finally, UBS Group decreased their price target 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 report on Wednesday, April 15th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.33.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK traded up $2.55 during mid-day trading on Friday, reaching $102.24. 391,228 shares of the company’s stock were exchanged, compared to its average volume of 2,060,650. The business’s fifty day simple moving average is $94.54 and its 200-day simple moving average is $90.04. The stock has a market capitalization of $22.91 billion, a PE ratio of 46.76 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $952.78 million. Equities research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 earnings per share for the current year.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.31% of the stock is owned by company insiders.

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

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

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.