Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued a "hold (C)" rating on Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK), indicating a cautious outlook on the stock's performance.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with a target price of $111.22, reflecting mixed evaluations from various research firms.
• In terms of stock performance, FWONK traded at $103.50 with a market cap of $23.14 billion, and the company reported earnings of $1.52 per share, significantly exceeding analyst expectations.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on the stock. Bank of America began coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Monday, August 4th. They issued a "neutral" rating and a $110.00 price target on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. UBS Group boosted 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 note on Friday, August 8th. Susquehanna boosted their price objective on 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. Finally, Wells Fargo & Company lowered their price objective 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 research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Liberty Media Corporation - Liberty Formula One Series C stock traded down $0.54 during midday trading on Tuesday, hitting $103.50. 409,133 shares of the company were exchanged, compared to its average volume of 1,161,679. The firm has a market capitalization of $23.14 billion, a PE ratio of 101.47 and a beta of 0.47. 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 business has a fifty day simple moving average of $101.62 and a two-hundred day simple moving average of $97.44.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, equities analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the sale, the director owned 1,781 shares in the company, valued at $178,456.20. This represents a 33.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 5,651 shares of company stock worth $572,250.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at approximately $208,588,000. Munro Partners purchased a new position in Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at approximately $111,340,000. Schroder Investment Management Group increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 4.9% in the 2nd quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company's stock valued at $904,653,000 after purchasing an additional 402,705 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 2,625.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 220,733 shares of the company's stock valued at $23,067,000 after purchasing an additional 212,633 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company's stock valued at $52,701,000 after purchasing an additional 170,435 shares in the last quarter. Hedge funds and other institutional investors 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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