Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" to a "hold" rating, indicating a shift in market sentiment.
• Analysts' price targets for the stock vary significantly, with Goldman Sachs maintaining a price target of $120.00, while Wells Fargo has lowered it to $86.00.
• Liberty Media reported earnings of $1.52 per share, surpassing analyst expectations of $0.81 for the last quarter, alongside revenue of $1.34 billion.

Zacks Research downgraded shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) from a strong-buy rating to a hold rating in a research note published on Tuesday, September 9th,Zacks.com reports.

FWONK has been the subject of several other reports. Guggenheim lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Rosenblatt Securities lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Susquehanna lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $121.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Sanford C. Bernstein raised shares of Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $111.22.

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

Shares of FWONK traded up $0.74 during mid-day trading on Tuesday, reaching $99.67. 303,847 shares of the company's stock were exchanged, compared to its average volume of 1,157,099. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 97.68 and a beta of 0.46. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $74.34 and a 52-week high of $106.26. The company has a 50-day simple moving average of $100.82 and a two-hundred day simple moving average of $95.22.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $0.81 by $0.71. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.28 billion. As a group, equities research analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 5,651 shares of company stock valued at $572,250.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth about $208,588,000. Munro Partners bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth about $111,340,000. Schroder Investment Management Group increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 4.9% in the 2nd quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company's stock worth $904,653,000 after purchasing an additional 402,705 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 2,625.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 220,733 shares of the company's stock worth $23,067,000 after purchasing an additional 212,633 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company's stock worth $52,701,000 after purchasing an additional 170,435 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

About Liberty Media Corporation - Liberty Formula One Series C

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.