Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Bumped Down to "Strong Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded FWONK from “sell” to “strong sell,” although the broader analyst consensus remains “Moderate Buy,” with five Buy ratings and three Holds and an average price target of $116.29.
• FWONK opened at $94.04, down 1.1%, while its latest quarterly results missed expectations: EPS was $0.02 versus the $0.24 estimate, and revenue totaled $934 million compared with the $952.78 million consensus.
• Institutional investors own 92.26% of the stock, with several major holders—including Berkshire Hathaway, Bank of America and Junto Capital—recently increasing or initiating positions.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Wells Fargo & Company dropped 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 on the stock in a research note on Tuesday, September 29th. Jefferies Financial Group assumed coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Wednesday, September 9th. They set a "buy" rating and a $115.00 price target on the stock. UBS Group upped their price target 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 note on Friday, August 7th. Finally, Sanford C. Bernstein increased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Five equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.29.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 1.1%

NASDAQ FWONK opened at $94.04 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $107.31. The firm's fifty day simple moving average is $97.94 and its 200-day simple moving average is $93.60. The company has a market capitalization of $21.10 billion, a PE ratio of 138.29 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $952.78 million. As a group, analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Berkshire Hathaway Inc bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth $297,358,000. Bank of America Corp DE boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 43.2% in the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company's stock valued at $387,845,000 after purchasing an additional 1,376,984 shares during the period. Junto Capital Management LP grew its position 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 purchasing an additional 1,093,372 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Liberty Media Corporation - Liberty Formula One Series C by 26.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company's stock worth $396,626,000 after purchasing an additional 981,047 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 893.8% during the 2nd quarter. Engineers Gate Manager LP now owns 1,049,351 shares of the company's stock worth $99,835,000 after purchasing an additional 943,757 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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