Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Given New $105.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target for Liberty Formula One Series C (FWONK) from $97 to $105 while maintaining an “equal weight” rating, implying approximately 2.7% upside.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $115.33; targets from other firms range as high as $125.
• FWONK shares rose 2.6% to $102.24, but the company’s latest quarterly results missed expectations, reporting EPS of $0.02 versus $0.24 expected and revenue of $934 million versus $952.78 million forecast.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price target raised by research analysts at Wells Fargo & Company from $97.00 to $105.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 2.70% from the stock's current price.

A number of other equities research analysts also 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. Sanford C. Bernstein raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $111.00 to $124.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. UBS Group dropped 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 report on Wednesday, April 15th. Finally, Guggenheim increased their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.33.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 2.6%

Shares of NASDAQ FWONK traded up $2.55 during midday trading on Friday, hitting $102.24. The stock had a trading volume of 391,228 shares, compared to its average volume of 2,060,650. 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 company has a market capitalization of $22.91 billion, a PE ratio of 46.76 and a beta of 0.43. The stock has a 50 day simple moving average of $94.54 and a 200-day simple moving average of $90.04.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts' expectations of $952.78 million. As a group, analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.93 earnings per share for the current fiscal year.

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

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Renee L. Wilm sold 11,597 shares of the business's 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 sale, the insider owned 15,590 shares of the company's stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.31% of the stock is owned by insiders.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $5,188,000. Annex Advisory Services LLC grew its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 28.8% during the second quarter. Annex Advisory Services LLC now owns 566,357 shares of the company's stock worth $53,883,000 after purchasing an additional 126,809 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.2% during the second quarter. Handelsbanken Fonder AB now owns 67,500 shares of the company's stock worth $6,422,000 after purchasing an additional 800 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $32,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 771,974 shares of the company's stock valued at $73,446,000 after purchasing an additional 24,020 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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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