Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts rate FWONK “Hold” overall: Four of seven analysts recommend holding the stock, while three rate it a buy. The average 12-month price target is $110.20, with recent targets ranging from $97 to $124.
• Shares are trading near $98.33, above their 50-day and 200-day moving averages, with a market capitalization of approximately $22.04 billion. The stock has traded between $80.15 and $109.36 over the past year.
• Liberty Media’s latest quarterly results exceeded expectations, with EPS of $0.03 versus the $0.06 loss analysts anticipated and revenue of $711 million versus a $683.42 million forecast. Insider selling included director Chase Carey’s sale of 100,000 shares and Renee Wilm’s sale of 11,597 shares.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) have been given a consensus rating of "Hold" by the seven analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $110.20.

FWONK has been the subject of a number of research reports. Bank of America increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Wall Street Zen raised Liberty Media Corporation - Liberty Formula One Series C from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. JPMorgan Chase & Co. upped 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. Weiss Ratings raised Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 1.3%

Shares of NASDAQ:FWONK opened at $98.33 on Tuesday. The company has a 50 day moving average of $93.11 and a 200-day moving average of $89.57. The firm has a market cap of $22.04 billion, a P/E ratio of 45.11 and a beta of 0.44. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. Equities research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.91 EPS for the current year.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series C 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 completion of the transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Trading of Liberty Media Corporation - Liberty Formula One Series C

A number of large investors have recently added to or reduced their stakes in FWONK. Zions Bancorporation National Association UT grew its position in 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 worth $29,000 after buying an additional 188 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at $32,000. Advisory Services Network LLC bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter worth $34,000. Headlands Technologies LLC bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth $38,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter worth $39,000. 92.26% of the stock is currently 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.

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