Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded FWONK from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $116.29.
• FWONK opened at $90.90 after falling 2.3%; the stock has a market capitalization of $20.39 billion and trades between a 12-month range of $80.15 to $107.31.
• Liberty Media’s latest quarterly results missed expectations, with EPS of $0.02 versus the $0.24 consensus and revenue of $934 million versus $952.78 million expected. Institutional investors own 92.26% of the company.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research analysts also recently commented on FWONK. JPMorgan Chase & Co. increased 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. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Wednesday, July 29th. Wells Fargo & Company cut their target price on 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 report on Tuesday, September 29th. Guggenheim increased their target price on 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. Finally, UBS Group increased their target price on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.29.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 2.3%

FWONK opened at $90.90 on Tuesday. The company has a fifty day simple moving average of $97.69 and a 200 day simple moving average of $93.88. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 133.68 and a beta of 0.46. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $107.31.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts' expectations of $952.78 million. On average, analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 earnings per share for the current fiscal year.

Institutional Trading of Liberty Media Corporation - Liberty Formula One Series C

Several institutional investors and hedge funds have recently bought and sold shares of FWONK. Generate Investment Management Ltd acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth approximately $4,439,000. Cooper Investors PTY Ltd. boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 167.4% during the 3rd quarter. Cooper Investors PTY Ltd. now owns 312,499 shares of the company's stock valued at $28,875,000 after purchasing an additional 195,639 shares during the period. Lincoln Capital LLC grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 4.0% during the 3rd quarter. Lincoln Capital LLC now owns 87,968 shares of the company's stock worth $8,150,000 after buying an additional 3,373 shares during the last quarter. GAMMA Investing LLC grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 43.8% during the 3rd quarter. GAMMA Investing LLC now owns 5,020 shares of the company's stock worth $464,000 after buying an additional 1,528 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 18.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock worth $104,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

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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