Guggenheim Issues Positive Forecast for Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Key Points

• Guggenheim raised its price target for Liberty Media’s Formula One Series C stock (FWONK) to $134 from $125 and maintained a “buy” rating, implying roughly 30% upside from the reported $103.11 price.
• Analyst sentiment is mixed but leans positive: FWONK has a consensus “Moderate Buy” rating and an average target of $118, with four Buy and four Hold ratings alongside a recent “strong sell” downgrade from Wall Street Zen.
• The company’s latest quarterly results fell short of expectations, reporting $0.02 in EPS versus $0.24 expected and revenue of $934 million versus $952.78 million forecast. Shares have nevertheless traded near their 12-month high, with 92.26% held by institutional investors and hedge funds.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price target lifted by research analysts at Guggenheim from $125.00 to $134.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price target suggests a potential upside of 29.96% from the stock's current price.

A number of other analysts have also weighed in on FWONK. Wall Street Zen lowered shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "strong sell" rating in a report on Saturday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price 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 note on Friday, August 7th. Wells Fargo & Company boosted their target price 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 research report on Friday, August 7th. Finally, UBS Group raised 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 report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $118.00.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK opened at $103.11 on Monday. The business has a fifty day moving average of $96.29 and a 200-day moving average of $90.64. The firm has a market cap of $23.13 billion, a PE ratio of 151.82 and a beta of 0.43. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $952.78 million. On average, analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.94 EPS for the current fiscal year.

Insider Transactions at Liberty Media Corporation - Liberty Formula One Series C

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chase Carey sold 100,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Several hedge funds have recently bought and sold shares of the company. Zions Bancorporation National Association UT increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after buying an additional 188 shares in the last quarter. Allied Private Wealth LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $32,000. Advisory Services Network LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at about $34,000. Headlands Technologies LLC bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth about $38,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth about $39,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation - Liberty Formula One Series C NASDAQ: FWONK is a tracking stock that represents Liberty Media's economic interest in the Formula One Group, the commercial operator of the FIA Formula One World Championship. Liberty Media is a diversified media and entertainment company that owns and manages a portfolio of media, communications and entertainment businesses. The Formula One Group conducts the commercial activities of one of the world's largest motor sports properties, packaging live races, media rights, sponsorships, licensing and related consumer products around a global sporting calendar.

The Formula One business comprises the sale and distribution of broadcast and digital media rights, race promotion and event management, sponsorship and brand partnerships, merchandising and licensing, and direct-to-consumer digital products and services.

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