JPMorgan Chase & Co. Issues Pessimistic Forecast for Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Key Points

• JPMorgan Chase cut its price target on Liberty Media Formula One Series C (FWONK) from $115 to $111, while keeping an overweight rating. The new target still implies about 21% upside from the prior close.
• Analyst sentiment is mixed: Wall Street Zen downgraded the stock to sell, while others made smaller target or rating adjustments. Overall, the stock still carries a Moderate Buy consensus with a consensus price target of $111.22.
• Liberty Formula One shares recently traded at $91.56, near their 52-week range of $80.15 to $109.36. The company also reported better-than-expected earnings and revenue in its latest quarter, and insider Chase Carey sold 100,000 shares.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $115.00 to $111.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 21.24% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. Wall Street Zen lowered Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research note on Sunday, May 17th. Weiss Ratings raised Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Wells Fargo & Company increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Finally, UBS Group decreased their price target on Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

FWONK stock traded up $0.50 on Friday, reaching $91.56. The company's stock had a trading volume of 118,437 shares, compared to its average volume of 2,063,868. Liberty Media Corporation - Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The company has a market capitalization of $20.52 billion, a P/E ratio of 42.00 and a beta of 0.44. The firm has a fifty day moving average of $88.02 and a two-hundred day moving average of $90.28.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million. As a group, equities analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other news, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction 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 $8,518,459.68. This trade represents a 51.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.31% of the stock is currently owned by corporate insiders.

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

Several large investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT grew its position in Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Advisory Services Network LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth approximately $34,000. Headlands Technologies LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth $38,000. Osterweis Capital Management Inc. acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 70.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock worth $42,000 after buying an additional 175 shares during the period. 92.26% of the stock is owned by institutional investors.

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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