Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Downgraded by Wall Street Zen to "Hold"

Key Points

• Liberty Media Corporation - Liberty Formula One Series C has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a more cautious outlook on the stock.
• Wells Fargo lowered its price target for the stock from $87.00 to $86.00, contributing to a consensus average price target of $111.22 among analysts.
• The company's recent earnings report showed an earnings per share of $1.52, surpassing estimates, while its stock traded at approximately $104.83, reflecting a slight increase.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Other analysts also recently issued reports about the company. Wells Fargo & Company lowered their price objective on Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating for the company in a research note on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Saturday, September 27th. Zacks Research downgraded Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. The Goldman Sachs Group reissued a "buy" rating and issued a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $108.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C currently has an average rating of "Moderate Buy" and an average price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.7%

FWONK traded up $0.68 during trading on Friday, hitting $104.83. 1,367,269 shares of the company's stock were exchanged, compared to its average volume of 1,028,836. The business's 50 day moving average is $101.03 and its two-hundred day moving average is $96.60. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $74.34 and a fifty-two week high of $106.51. The stock has a market cap of $23.44 billion, a P/E ratio of 102.78 and a beta of 0.47.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. On average, sell-side analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $102.44, for a total transaction of $397,979.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,651 shares of company stock worth $572,250 over the last three months. 4.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 4.9% during the 2nd quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company's stock valued at $904,653,000 after purchasing an additional 402,705 shares in the last quarter. Geode Capital Management LLC grew its position in Liberty Media Corporation - Liberty Formula One Series C by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company's stock worth $400,694,000 after buying an additional 126,501 shares in the last quarter. Bank of America Corp DE grew its position in Liberty Media Corporation - Liberty Formula One Series C by 3.8% during the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company's stock worth $278,594,000 after buying an additional 98,354 shares in the last quarter. Norges Bank purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $208,588,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,916,759 shares of the company's stock worth $200,301,000 after purchasing an additional 12,466 shares in the last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.

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