Guggenheim Forecasts Strong Price Appreciation for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price objective increased by equities research analysts at Guggenheim from $124.00 to $125.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 20.93% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Bank of America lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, UBS Group decreased 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 on the stock in a research report on Wednesday, April 15th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

FWONK stock traded up $2.16 on Wednesday, reaching $103.36. 221,954 shares of the company traded hands, compared to its average volume of 2,041,563. 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 $23.16 billion, a P/E ratio of 47.34 and a beta of 0.44. The firm has a fifty day simple moving average of $93.33 and a 200-day simple moving average of $89.63.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its 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 during the quarter, compared to the consensus estimate of $683.42 million. On average, sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 EPS for the current year.

Insider Buying and Selling 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 Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the sale, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was 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 approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

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

Several institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.6% during the 4th quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock valued at $466,000 after acquiring an additional 118 shares during the period. Farther Finance Advisors LLC increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 26.6% in the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock worth $56,000 after purchasing an additional 120 shares during the period. Blair William & Co. IL increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 2.7% in the fourth quarter. Blair William & Co. IL now owns 5,175 shares of the company’s stock worth $510,000 after purchasing an additional 135 shares during the period. Clearstead Advisors LLC lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.4% during the fourth quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock worth $1,016,000 after purchasing an additional 141 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company’s stock valued at $3,234,000 after purchasing an additional 149 shares during the period. 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.