Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $117.5714.

FWONK has been the subject of a number of research reports. Jefferies Financial Group started coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, September 9th. They set a “buy” rating and a $115.00 target price for the company. UBS Group raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Wells Fargo & Company lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Guggenheim boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $94.54 on Wednesday. The stock’s 50-day simple moving average is $99.49 and its 200-day simple moving average is $92.70. The firm has a market capitalization of $21.21 billion, a PE ratio of 139.03 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $952.78 million. Sell-side analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of FWONK. Anchor Investment Management LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth $39,000. Junto Capital Management LP boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock worth $162,431,000 after buying an additional 1,093,372 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 13.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after buying an additional 645,996 shares during the last quarter. Tidal Investments LLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 60.4% during the second quarter. Tidal Investments LLC now owns 9,868 shares of the company’s stock worth $939,000 after purchasing an additional 3,714 shares in the last quarter. Finally, National Pension Service raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 19.8% in the 2nd quarter. National Pension Service now owns 16,291 shares of the company’s stock valued at $1,550,000 after purchasing an additional 2,690 shares during the last quarter. 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’s Liberty Formula One Group, represented by the Series C Liberty Formula One common stock (NASDAQ: FWONK), is a tracking-stock group tied primarily to the company’s interests in Formula 1. The group’s principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.