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

Key Points

• The consensus recommendation for Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) is a "Moderate Buy" from twelve research firms, with an average price target of $111.22.
• Liberty Media's stock saw recent upgrades from various brokerages, including a price raise by Susquehanna from $115.00 to $121.00.
• Insider trading activity revealed a director sold 898 shares at an average price of $100.20, decreasing their ownership by 33.52%.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $111.2222.

A number of brokerages have recently weighed in on FWONK. Susquehanna raised their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $121.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Rosenblatt Securities raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. UBS Group lifted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Finally, Zacks Research downgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th.

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

In related news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $100.20, for a total value of $89,979.60. Following the completion of the transaction, the director directly owned 1,781 shares in the company, valued at approximately $178,456.20. This represents a 33.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,651 shares of company stock valued at $572,250 over the last ninety days.

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

Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 1.9% during the second quarter. US Bancorp DE now owns 5,866 shares of the company's stock worth $613,000 after buying an additional 110 shares during the period. Blair William & Co. IL boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 2.0% during the 2nd quarter. Blair William & Co. IL now owns 6,016 shares of the company's stock worth $629,000 after purchasing an additional 118 shares during the period. Loomis Sayles & Co. L P boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 24.7% during the 2nd quarter. Loomis Sayles & Co. L P now owns 852 shares of the company's stock worth $89,000 after purchasing an additional 169 shares during the period. EverSource Wealth Advisors LLC boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 8.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,293 shares of the company's stock worth $240,000 after purchasing an additional 188 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 5.8% in the second quarter. Captrust Financial Advisors now owns 3,492 shares of the company's stock worth $365,000 after buying an additional 191 shares during the period. 92.26% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.2%

Shares of FWONK stock opened at $104.45 on Wednesday. The business has a fifty day simple moving average of $101.01 and a 200-day simple moving average of $96.32. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $74.34 and a fifty-two week high of $106.26. The stock has a market cap of $23.36 billion, a P/E ratio of 102.40 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.28 billion. On average, sell-side analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current year.

About Liberty Media Corporation - Liberty Formula One Series C

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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