Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Reaches New 12-Month High - Still a Buy?

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $104.52 and last traded at $104.28, with a volume of 1343422 shares trading hands. The stock had previously closed at $103.46.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FWONK. Rosenblatt Securities lifted 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. 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 company a "positive" rating in a research report on Wednesday. Morgan Stanley cut their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Sanford C. Bernstein raised Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company lowered their price target 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 research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $101.83.

Liberty Media Corporation - Liberty Formula One Series C Trading Down 1.1%

The stock has a market capitalization of $25.89 billion, a P/E ratio of -259.50 and a beta of 0.42. The stock's fifty day moving average price is $94.45 and its two-hundred day moving average price is $92.49.

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, beating the consensus estimate of ($0.18) by $0.23. The business had revenue of $447.00 million for the quarter, compared to the consensus estimate of $440.80 million. As a group, analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series C

In other news, Director Chase Carey sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $94.60, for a total value of $4,730,000.00. Following the transaction, the director now owns 93,102 shares in the company, valued at approximately $8,807,449.20. This trade represents a 34.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

Institutional investors have recently added to or reduced their stakes in the company. GW&K Investment Management LLC bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 1st quarter worth approximately $25,000. Versant Capital Management Inc boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% in the first quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock valued at $194,000 after acquiring an additional 2,013 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 22.3% in the first quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company's stock valued at $382,000 after acquiring an additional 779 shares in the last quarter. Allstate Corp purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter valued at $571,000. Finally, Praxis Investment Management Inc. increased its position in Liberty Media Corporation - Liberty Formula One Series C by 10.7% during the 1st quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock valued at $888,000 after purchasing an additional 950 shares during the period. 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.