Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded FWONK from “strong sell” to “sell,” while broader analyst sentiment remains more positive, with a consensus “Moderate Buy” rating and an average price target of $116.29.
• The stock opened at $91.20, with a market capitalization of $20.46 billion and a valuation of 134.12 times earnings; its 52-week range is $80.15 to $109.36.
• Liberty Formula One Series C missed quarterly expectations, reporting $0.02 in EPS versus the $0.24 consensus and revenue of $934 million versus estimates of $952.78 million. Institutional investors own 92.26% of the stock.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on FWONK. UBS Group boosted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Guggenheim increased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, August 17th. JPMorgan Chase & Co. lifted their price objective 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 report on Friday, August 7th. 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 note on Monday, July 6th. Finally, Sanford C. Bernstein upped their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.29.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Liberty Media Corporation - Liberty Formula One Series C stock opened at $91.20 on Friday. The firm has a market capitalization of $20.46 billion, a P/E ratio of 134.12 and a beta of 0.46. 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's 50-day moving average is $98.43 and its 200 day moving average is $93.25.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The business had revenue of $934.00 million for the quarter, compared to analyst estimates of $952.78 million. Research analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the fourth quarter valued at approximately $297,358,000. Bank of America Corp DE grew 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 buying an additional 1,376,984 shares in the last quarter. Junto Capital Management LP grew its holdings 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 valued at $162,431,000 after buying an additional 1,093,372 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 acquiring an additional 981,047 shares during the last quarter. Finally, Engineers Gate Manager LP increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 893.8% in the 2nd quarter. Engineers Gate Manager LP now owns 1,049,351 shares of the company's stock worth $99,835,000 after acquiring an additional 943,757 shares during the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

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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