Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Share Price Crosses Above 50 Day Moving Average - Here's Why

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $93.44 and traded as high as $103.80. Liberty Media Corporation - Liberty Formula One Series C shares last traded at $103.46, with a volume of 1,712,680 shares traded.

Analyst Ratings Changes

FWONK has been the subject of several research reports. Sanford C. Bernstein raised Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research report on Wednesday, June 4th. Rosenblatt Securities increased their price target 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 report on Wednesday, June 4th. Susquehanna assumed coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Monday, April 28th. They issued a "positive" rating and a $115.00 price target on the stock. Wall Street Zen lowered shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Seaport Res Ptn upgraded shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series C presently has a consensus rating of "Hold" and an average target price of $100.83.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

The stock has a market cap of $26.19 billion, a price-to-earnings ratio of -262.48 and a beta of 0.42. The stock's 50 day simple moving average is $93.96 and its two-hundred day simple moving average is $92.40.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share 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 analyst estimates of $440.80 million. As a group, analysts predict 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 other Liberty Media Corporation - Liberty Formula One Series C news, Director Chase Carey sold 50,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $94.60, for a total transaction of $4,730,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

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