Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Hits New 52-Week High - Should You Buy?

Key Points

• Liberty Media Corporation's Formula One Series C (NASDAQ:FWONK) reached a new 52-week high of $106.51 during trading, closing at $106.12.
• Analyst ratings for FWONK show a consensus rating of "Moderate Buy" with an average price target of $111.22, following upgrades from several firms.
• The company reported strong quarterly earnings, with $1.52 EPS exceeding analysts' expectations, leading to a forecast of 1.36 EPS for the current year.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $106.51 and last traded at $106.12, with a volume of 185694 shares changing hands. The stock had previously closed at $104.15.

Analyst Ratings Changes

Several research firms have commented on FWONK. JPMorgan Chase & Co. upped their price objective 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 note on Thursday, August 21st. The Goldman Sachs Group reissued a "buy" rating and issued a $120.00 target price on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Tuesday, July 22nd. Wells Fargo & Company dropped their target price 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 report on Friday, August 8th. Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

The firm has a 50-day simple moving average of $101.03 and a two-hundred day simple moving average of $96.60. The company has a market cap of $23.44 billion, a PE 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 results 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 company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.28 billion. Equities research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Monday, August 25th. The stock was sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 5,651 shares of company stock worth $572,250 over the last ninety days. Company insiders own 4.31% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWONK. GW&K Investment Management LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the first quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $29,000. Headlands Technologies LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $38,000. Osterweis Capital Management Inc. acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $46,000. Institutional investors and hedge funds own 92.26% of the company's stock.

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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