Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Price Target Raised at TD Cowen

Key Points

• TD Cowen raised its price target on Liberty Formula One Series C from $118 to $125 and maintained a Buy rating, implying 15.89% upside from the prior close.
• Analyst sentiment is broadly positive but mixed: seven analysts rate the shares Buy and four Hold, with a consensus “Moderate Buy” rating and $118.44 average target.
• Shares slipped 0.1% to $107.86 in Tuesday trading. Institutional investors own 92.26% of the stock.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price objective increased by research analysts at TD Cowen from $118.00 to $125.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's target price would suggest a potential upside of 15.89% from the company's previous close.

Several other research analysts have also recently issued reports on the stock. Zacks Research cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Guggenheim boosted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Wells Fargo & Company upped their price objective on Liberty Media Corporation - Liberty Formula One Series C from $96.00 to $113.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, 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. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and a consensus price target of $118.44.

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

Shares of FWONK stock traded down $0.14 during mid-day trading on Tuesday, reaching $107.86. 924,931 shares of the company's stock traded hands, compared to its average volume of 2,162,179. The company's 50-day moving average price is $94.67 and its 200-day moving average price is $92.28. The company has a market cap of $24.20 billion, a P/E ratio of 124.45 and a beta of 0.46. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $108.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.9% in the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company's stock worth $925,299,000 after purchasing an additional 302,191 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position 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. Bank of America Corp DE boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company's stock valued at $387,845,000 after buying an additional 1,376,984 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 58.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company's stock valued at $202,919,000 after buying an additional 819,363 shares during the last quarter. Finally, Junto Capital Management LP boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 178.1% during the second quarter. Junto Capital Management LP now owns 1,707,281 shares of the company's stock valued at $162,431,000 after buying an additional 1,093,372 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Series C stock NASDAQ: FWONK is a tracking stock associated with the company's Formula One Group. The group's principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship's commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.

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