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 price objective boosted by stock analysts at Wells Fargo & Company from $96.00 to $113.00 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 target points to a potential upside of 7.84% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group began coverage on shares of 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 target on the stock. Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 11th. Susquehanna reduced their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating for the company in a research report on Friday, October 16th. UBS Group increased their price objective 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 report on Friday, August 7th. Finally, Guggenheim lifted 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 report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.62.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 1.6%

FWONK traded down $1.73 during trading on Friday, hitting $104.79. The company’s stock had a trading volume of 265,313 shares, compared to its average volume of 2,144,257. The firm has a market capitalization of $23.51 billion, a price-to-earnings ratio of 154.66 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $108.35. The business’s fifty day simple moving average is $94.46 and its 200 day simple moving average is $92.10.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.13). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. As a group, equities research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in FWONK. Resona Asset Management Co. Ltd. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 21.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 97,236 shares of the company’s stock worth $8,248,000 after buying an additional 17,405 shares in the last quarter. Braun Stacey Associates Inc. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.5% in the second quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company’s stock worth $29,860,000 after buying an additional 37,375 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.8% in the second 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 in the last quarter. Junto Capital Management LP lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the second 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 in the last quarter. Finally, SEB Asset Management AB acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the first quarter worth about $5,370,000. Institutional investors and hedge funds 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 tracking stock represents an economic interest in the company’s Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport’s international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.