JPMorgan Chase & Co. Increases Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Price Target to $125.00

Key Points

• JPMorgan raised its price target for Liberty Media’s Formula One Series C stock (FWONK) from $124 to $125 and maintained an “overweight” rating, implying 21.55% upside from the reported $102.84 share price.
• Analyst sentiment remains generally positive, with four Buy and four Hold ratings producing a “Moderate Buy” consensus and an average price target of $115.50.
• FWONK’s latest quarterly results fell short of expectations: earnings were $0.02 per share versus a $0.24 consensus estimate, while revenue of $934 million was below forecasts of $952.78 million.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $124.00 to $125.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 21.55% from the company's current price.

Other equities research analysts have also issued research reports about the stock. UBS Group cut their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. 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 upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Sanford C. Bernstein lifted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $115.50.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of NASDAQ:FWONK traded up $3.15 during trading on Friday, reaching $102.84. 683,617 shares of the stock were exchanged, compared to its average volume of 2,062,752. 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 stock has a fifty day moving average of $94.54 and a two-hundred day moving average of $90.04. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 47.06 and a beta of 0.43.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted 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 analyst estimates of $952.78 million. Sell-side analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.93 EPS for the current year.

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

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Monday, June 15th. The shares were 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. The trade was a 42.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was 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 owned 94,356 shares of the company's stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.31% of the stock is owned by insiders.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. raised its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company's stock valued at $466,000 after acquiring an additional 118 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 26.6% during the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company's stock worth $56,000 after purchasing an additional 120 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.7% in the fourth quarter. Blair William & Co. IL now owns 5,175 shares of the company's stock valued at $510,000 after purchasing an additional 135 shares during the last quarter. Clearstead Advisors LLC lifted its position in Liberty Media Corporation - Liberty Formula One Series C by 1.4% during the fourth quarter. Clearstead Advisors LLC now owns 10,312 shares of the company's stock worth $1,016,000 after buying an additional 141 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 0.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company's stock worth $3,234,000 after buying an additional 149 shares during the last quarter. Institutional investors own 92.26% of the company's stock.

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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