Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• FWONK carries a consensus analyst rating of “Moderate Buy”, based on coverage from ten brokerages split evenly between five hold ratings and five buy ratings. The average 12-month price target is $111.75.
• Recent analyst actions were mixed: Wells Fargo raised its target to $97, UBS cut its target to $104, and JPMorgan lowered its target to $111 while keeping an overweight rating. Other firms adjusted ratings modestly, including upgrades from Weiss Ratings and Wall Street Zen.
• The company beat quarterly expectations, posting $0.03 EPS versus a loss estimate and revenue of $711 million versus expectations of $683.42 million. Shares opened at $87.68, below the stock’s 52-week high of $109.36.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $111.75.

Several equities analysts recently weighed in on FWONK shares. Wells Fargo & Company lifted their target price on Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. UBS Group lowered their target price on Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lowered their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $111.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

FWONK stock opened at $87.68 on Monday. The company has a market cap of $19.65 billion, a P/E ratio of 40.22 and a beta of 0.47. 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 stock's fifty day moving average price is $88.67 and its 200-day moving average price is $89.78.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analysts' expectations of $683.42 million. As a group, analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series C stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.31% of the company's stock.

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

A number of institutional investors and hedge funds have recently bought and sold shares of FWONK. Zions Bancorporation National Association UT raised its holdings in Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after acquiring an additional 188 shares during the period. Advisory Services Network LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the third quarter valued at about $34,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at about $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Liberty Media Corporation - Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company's stock valued at $42,000 after acquiring an additional 175 shares during the period. 92.26% of the stock is owned by institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.