Wall Street Zen Upgrades Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) to Sell

Key Points

• Wall Street Zen raised its rating on FWONK from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $117.62.
• Liberty Media reported quarterly EPS of $0.43, below the $0.56 analyst consensus, and revenue of $1.23 billion, slightly under the $1.24 billion estimate.
• FWONK shares opened at $106.33 and were near their 52-week high of $108.35; institutional investors and hedge funds own 92.26% of the stock.

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

A number of other brokerages have also recently commented on FWONK. Sanford C. Bernstein increased their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. Zacks Research lowered Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 29th. Jefferies Financial Group started 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 for the company. UBS Group upped their price target 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 report on Friday, August 7th. Finally, Guggenheim increased their target price 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 research note on Monday, August 17th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $117.62.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $106.33 on Friday. The company's 50 day moving average price is $94.54 and its 200 day moving average price is $92.18. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $108.35. The company has a market capitalization of $23.85 billion, a PE ratio of 138.90 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, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.13). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. On average, equities analysts forecast 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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 407.2% during the third quarter. Diversified Trust Co now owns 24,702 shares of the company's stock worth $2,282,000 after buying an additional 19,832 shares in the last quarter. Allworth Financial LP grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 118.6% during the third quarter. Allworth Financial LP now owns 2,116 shares of the company's stock worth $201,000 after buying an additional 1,148 shares in the last quarter. CENTRAL TRUST Co bought a new stake in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at about $212,000. Maryland State Retirement & Pension System increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 12.4% during the third quarter. Maryland State Retirement & Pension System now owns 13,659 shares of the company's stock valued at $1,262,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth $1,249,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

More Liberty Media Corporation - Liberty Formula One Series C News

Here are the key news stories impacting Liberty Media Corporation - Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Series C tracking stock represents an economic interest in the company's Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport's international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.

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