Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Sets New 12-Month High - Here's Why

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $102.36 and last traded at $102.40, with a volume of 779803 shares changing hands. The stock had previously closed at $99.21.

Analyst Upgrades and Downgrades

FWONK has been the subject of several analyst reports. Rosenblatt Securities boosted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Wells Fargo & Company reduced their target price on Liberty Media Corporation - Liberty Formula One Series C from $83.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Finally, Sanford C. Bernstein upgraded Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C presently has a consensus rating of "Hold" and a consensus price target of $100.83.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

The stock has a fifty day simple moving average of $92.04 and a two-hundred day simple moving average of $92.07. The stock has a market capitalization of $25.44 billion, a price-to-earnings ratio of -254.93 and a beta of 0.42.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.23. The business had revenue of $447.00 million for the quarter, compared to analyst estimates of $440.80 million. Research analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Chase Carey sold 50,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $94.60, for a total transaction of $4,730,000.00. Following the transaction, the director now directly owns 93,102 shares of the company's stock, valued at approximately $8,807,449.20. This represents a 34.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the first quarter worth $2,370,000. Russell Investments Group Ltd. raised its position in Liberty Media Corporation - Liberty Formula One Series C by 22.7% in the 1st quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company's stock valued at $11,570,000 after buying an additional 23,809 shares during the last quarter. Hahn Capital Management LLC lifted its stake in Liberty Media Corporation - Liberty Formula One Series C by 47.7% during the 4th quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock valued at $6,226,000 after acquiring an additional 21,699 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 25.8% during the 1st quarter. Voya Investment Management LLC now owns 62,413 shares of the company's stock worth $5,618,000 after acquiring an additional 12,817 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after acquiring an additional 6,297 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

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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