Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Downgraded by Zacks Research to "Hold"

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.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on FWONK. Wells Fargo & Company cut their price target on Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating on the stock in a research note on Friday, August 8th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $120.00 price target on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Tuesday, July 22nd. Bank of America started coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Monday, August 4th. They set a "neutral" rating and a $110.00 price objective on the stock. UBS Group boosted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on Liberty Media Corporation - Liberty Formula One Series C from $108.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK opened at $98.87 on Tuesday. The firm's 50 day simple moving average is $101.04 and its 200-day simple moving average is $95.11. Liberty Media Corporation - Liberty Formula One Series C has a one year low of $74.34 and a one year high of $106.26. The firm has a market cap of $22.11 billion, a PE ratio of 96.93 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share (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 the consensus estimate of $1.28 billion. Equities research analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

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

In other news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the company's stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through this link. Insiders have sold 5,651 shares of company stock worth $572,250 over the last three months. Corporate insiders own 4.31% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FWONK. Public Employees Retirement System of Ohio increased its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock valued at $37,529,000 after acquiring an additional 4,897 shares during the last quarter. California State Teachers Retirement System grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock valued at $32,518,000 after buying an additional 6,297 shares during the last quarter. Versant Capital Management Inc grew its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% in the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock valued at $194,000 after buying an additional 2,013 shares during the last quarter. Praxis Investment Management Inc. grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 10.7% during the 1st quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock worth $888,000 after purchasing an additional 950 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 1st quarter worth approximately $25,000. 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.

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