Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Has Consensus Price Target of $116.29

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) have received an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $116.29.

FWONK has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wells Fargo & Company cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 29th. Bank of America lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. Guggenheim upped their price objective on 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, Jefferies Financial Group began coverage on Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, September 9th. They issued a “buy” rating and a $115.00 price objective on the stock.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of Liberty Media Corporation – Liberty Formula One Series C stock opened at $93.02 on Friday. The firm has a market capitalization of $20.87 billion, a PE ratio of 137.96 and a beta of 0.46. The company’s fifty day moving average price is $97.80 and its two-hundred day moving average price is $93.82. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $107.31.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The firm had revenue of $934.00 million for the quarter, compared to the consensus estimate of $952.78 million. Analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently modified their holdings of FWONK. Allied Private Wealth LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $32,000. Anchor Investment Management LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth approximately $39,000. V Square Quantitative Management LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 1st quarter valued at $51,000. Oslo Pensjonsforsikring AS acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 1st quarter valued at $58,000. Finally, Allworth Financial LP increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 567.6% during the 2nd quarter. Allworth Financial LP now owns 968 shares of the company’s stock valued at $92,000 after purchasing an additional 823 shares in the last quarter. 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 Series C represents a non-voting tracking stock associated with the company’s Formula One Group. The group’s principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship’s commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.