Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Gets Price Target Cut from Susquehanna

Key Points

• Susquehanna cut its price target for Liberty Formula One Series C (FWONK) from $114 to $110 while maintaining a positive rating, implying 21.13% potential upside.
• Analyst sentiment remains generally favorable, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $115.50, despite recent mixed revisions.
• FWONK opened at $90.81 and recently reported weaker-than-expected results, with quarterly EPS of $0.02 versus a $0.24 consensus estimate and revenue of $934 million versus $952.78 million expected.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its target price cut by analysts at Susquehanna from $114.00 to $110.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price objective suggests a potential upside of 21.13% from the stock's current price.

A number of other equities research analysts have also commented on FWONK. Zacks Research upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Jefferies Financial Group initiated coverage on Liberty Media Corporation - Liberty Formula One Series C in a research note on Wednesday, September 9th. They set a "buy" rating and a $115.00 target price on the stock. Wells Fargo & Company decreased their target price on 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 report on Tuesday, September 29th. Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "strong sell" rating in a research note on Sunday, October 11th. Finally, Bank of America raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $115.50.

Liberty Media Corporation - Liberty Formula One Series C Stock Down 0.1%

NASDAQ FWONK opened at $90.81 on Friday. The company has a 50-day simple moving average of $97.52 and a two-hundred day simple moving average of $93.94. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $107.31. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 133.68 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates 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. Equities analysts expect 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allied Private Wealth LLC purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth about $32,000. Anchor Investment Management LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth approximately $39,000. V Square Quantitative Management LLC purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 1st quarter worth approximately $51,000. Oslo Pensjonsforsikring AS purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 1st quarter worth approximately $58,000. Finally, Allworth Financial LP raised its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 567.6% in the 2nd quarter. Allworth Financial LP now owns 968 shares of the company's stock worth $92,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.