Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Price Target Lowered to $115.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target to $115 (from $122) but kept an “overweight” rating, with the new target implying roughly a 38% upside from the stock’s prior price reference.
• The analyst consensus is a “Moderate Buy”, with six Buy and five Hold ratings and an average target price of $111.78.
• Shares traded down about 2.1% to $83.41 midday; the company has a market cap of $18.69 billion and very high institutional ownership at 92.26%.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $122.00 to $115.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 37.87% from the company's current price.

A number of other research analysts have also recently weighed in on the company. Sanford C. Bernstein upgraded Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $110.00 to $111.00 in a report on Monday, January 12th. Wells Fargo & Company upgraded Liberty Media Corporation - Liberty Formula One Series C from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $93.00 to $95.00 in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $111.78.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 2.1%

Shares of FWONK traded down $1.77 during mid-day trading on Thursday, reaching $83.41. The company had a trading volume of 1,629,057 shares, compared to its average volume of 2,206,616. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $75.26 and a fifty-two week high of $109.36. The firm has a fifty day simple moving average of $87.50 and a 200-day simple moving average of $94.93. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 12.62 and a beta of 0.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 172.5% in the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after buying an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth approximately $34,000. Headlands Technologies LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth approximately $38,000. Osterweis Capital Management Inc. purchased a new position in Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth approximately $39,000. Finally, Root Financial Partners LLC acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.26% of the company's stock.

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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