Liberty Media Corporation - Liberty Formula One Series C (FWONK) Projected to Release Quarterly Earnings on Thursday

Key Points

• Liberty Media’s Formula One tracking stock is expected to report quarterly results before the market opens on August 6. Analysts project earnings of $0.2632 per share and revenue of approximately $959.3 million, versus the prior quarter’s $0.03 EPS and $711 million in revenue.
• FWONK shares opened at $101.82, with a 52-week range of $80.15 to $109.36 and a market capitalization of $22.82 billion. The stock has a consensus “Moderate Buy” rating and an average price target of $114.
• Institutional investors own 92.26% of the stock, while insiders own 4.31%. Recent insider activity was negative, with executives selling substantial portions of their holdings, including 100,000 shares sold by director Chase Carey.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) is projected to release its results before the market opens on Thursday, August 6th. Analysts expect the company to post earnings of $0.2632 per share and revenue of $959.3320 million for the quarter.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. On average, analysts expect Liberty Media Corporation - Liberty Formula One Series C to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of NASDAQ:FWONK opened at $101.82 on Thursday. 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 firm has a market capitalization of $22.82 billion, a PE ratio of 46.71 and a beta of 0.44. The business's 50 day moving average price is $93.56 and its 200-day moving average price is $89.71.

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the transaction, the director directly owned 94,356 shares in the company, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Several hedge funds and other institutional investors have recently bought and sold shares of FWONK. Federation des caisses Desjardins du Quebec raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 594.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,459 shares of the company's stock worth $144,000 after buying an additional 1,249 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the third quarter worth about $126,000. LMR Partners LLP acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $104,000. Geneos Wealth Management Inc. lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 30.4% in the second quarter. Geneos Wealth Management Inc. now owns 833 shares of the company's stock valued at $87,000 after purchasing an additional 194 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at approximately $84,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Wells Fargo & Company lifted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Guggenheim increased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday. UBS Group lowered their target price 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. Finally, Weiss Ratings upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

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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