JPMorgan Chase & Co. Cuts Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target to $115.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target decreased by JPMorgan Chase & Co. from $122.00 to $115.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

FWONK has been the subject of several other reports. Wells Fargo & Company upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $93.00 to $95.00 in a report on Friday, February 27th. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $110.00 to $111.00 in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.78.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock opened at $81.42 on Thursday. The company has a 50 day simple moving average of $87.16 and a 200 day simple moving average of $94.67. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 11.70 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36.

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

A number of institutional investors have recently made changes to their positions in FWONK. Allspring Global Investments Holdings LLC increased its position in Liberty Media Corporation – Liberty Formula One Series C by 5.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,660 shares of the company’s stock valued at $20,871,000 after purchasing an additional 10,620 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $1,255,000. Assenagon Asset Management S.A. lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 79.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 85,657 shares of the company’s stock worth $8,947,000 after purchasing an additional 38,054 shares during the period. Cantillon Capital Management LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $121,803,000. Finally, Banco Santander S.A. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $1,685,000. 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.