Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Earns Buy Rating from Analysts at Jefferies Financial Group

Key Points

• Jefferies initiated coverage of FWONK with a “buy” rating and a $115 price target, implying 19.47% upside from the prior close.
• Analyst sentiment is generally positive but mixed: five analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target price of $117.57.
• FWONK recently traded at $96.26, while Liberty Media’s latest quarterly results missed expectations, with earnings of $0.02 per share versus a $0.24 consensus estimate and revenue of $934 million versus $952.78 million expected.

Analysts at Jefferies Financial Group initiated coverage on shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) in a report issued on Wednesday, Briefing.com reports. The firm set a "buy" rating and a $115.00 price target on the stock. Jefferies Financial Group's price target would suggest a potential upside of 19.47% from the company's previous close.

Other analysts have also issued research reports about the stock. Bank of America boosted their price objective 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 report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 8th. Sanford C. Bernstein increased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $117.57.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

FWONK stock traded up $1.31 during trading hours on Wednesday, reaching $96.26. 78,982 shares of the stock were exchanged, compared to its average volume of 2,029,060. The firm's 50-day moving average is $99.88 and its 200-day moving average is $92.36. The company has a market cap of $21.59 billion, a price-to-earnings ratio of 141.10 and a beta of 0.43. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22). The firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. As a group, equities research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 2 earnings per share for the current year.

Insider Transactions at Liberty Media Corporation - Liberty Formula One Series C

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

Several institutional investors and hedge funds have recently bought and sold shares of FWONK. Principal Securities Inc. raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 2.6% in 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. Blair William & Co. IL lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.7% during the 4th quarter. Blair William & Co. IL now owns 5,175 shares of the company's stock worth $510,000 after buying an additional 135 shares during the last quarter. Clearstead Advisors LLC lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.4% during the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company's stock worth $1,016,000 after buying an additional 141 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 6.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,616 shares of the company's stock worth $258,000 after buying an additional 152 shares during the period. Finally, Vident Advisory LLC boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.0% during the 4th quarter. Vident Advisory LLC now owns 5,455 shares of the company's stock worth $537,000 after buying an additional 161 shares during the period. 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.

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