Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Price Target Cut to $96.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target for Liberty Media’s Formula One Series C shares from $105 to $96 while maintaining an “equal weight” rating, implying only 1.17% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: FWONK has an average “Moderate Buy” rating and a consensus price target of $116.29, despite recent downgrades and neutral ratings.
• The company reported quarterly EPS of $0.02, missing the $0.24 consensus estimate, while revenue of $934 million also fell short of expectations. Shares opened at $94.89, with 92.26% of the stock owned by institutional investors.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price objective lowered by analysts at Wells Fargo & Company from $105.00 to $96.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 1.17% from the company's previous close.

A number of other research firms have also recently commented on FWONK. 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 report on Saturday, August 8th. 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 research report on Friday, August 7th. Sanford C. Bernstein boosted their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Finally, Bank of America upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.29.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of NASDAQ:FWONK opened at $94.89 on Tuesday. Liberty Media Corporation - Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The company has a market capitalization of $21.29 billion, a PE ratio of 139.54 and a beta of 0.43. The business has a fifty day moving average price of $98.83 and a two-hundred day moving average price of $93.10.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $952.78 million. Sell-side analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Wealth LLC raised its position in Liberty Media Corporation - Liberty Formula One Series C by 3.3% during the 1st quarter. NewEdge Wealth LLC now owns 6,142 shares of the company's stock valued at $522,000 after purchasing an additional 196 shares during the last quarter. Transatlantique Private Wealth LLC increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.4% during the fourth quarter. Transatlantique Private Wealth LLC now owns 6,508 shares of the company's stock valued at $641,000 after buying an additional 217 shares during the period. Assetmark Inc. lifted its stake in Liberty Media Corporation - Liberty Formula One Series C by 25.1% in the first quarter. Assetmark Inc. now owns 1,162 shares of the company's stock worth $99,000 after acquiring an additional 233 shares during the period. QRG Capital Management Inc. boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 4.8% in the first quarter. QRG Capital Management Inc. now owns 6,561 shares of the company's stock valued at $558,000 after acquiring an additional 303 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at $32,000. 92.26% of the stock is owned by institutional investors.

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.

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