Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate FWONK a “Moderate Buy”: Five of eight analysts recommend buying the stock, while three rate it a hold. The average 12-month price target is $117.57, with recent targets ranging from $105 to $134.
• Recent quarterly results fell short of expectations: Liberty Formula One reported EPS of $0.02 versus the $0.24 consensus estimate and revenue of $934 million, below expectations of $952.78 million.
• Institutional ownership remains high: Institutional investors own 92.26% of the stock, with several major funds—including Bank of America and The Manufacturers Life Insurance Company—recently increasing their positions.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $117.5714.

Several analysts recently weighed in on the company. Bank of America increased their target price on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 6th. UBS Group lifted their price target on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Wells Fargo & Company upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $97.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Guggenheim raised 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 research note on Monday, August 17th.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Liberty Media Corporation - Liberty Formula One Series C stock opened at $95.00 on Wednesday. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $109.36. The firm has a fifty day moving average price of $99.58 and a two-hundred day moving average price of $92.60. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 139.71 and a beta of 0.43.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued 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 firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. As a group, sell-side analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 2 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company's stock worth $925,299,000 after acquiring an additional 302,191 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company's stock worth $505,297,000 after purchasing an additional 645,996 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 17.8% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company's stock valued at $447,471,000 after purchasing an additional 688,000 shares during the period. Geode Capital Management LLC increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,983,116 shares of the company's stock valued at $391,290,000 after purchasing an additional 36,599 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 43.2% in 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 purchasing an additional 1,376,984 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Group, represented by the Series C Liberty Formula One common stock NASDAQ: FWONK, is a tracking-stock group tied primarily to the company's interests in Formula 1. The group's principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.

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