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

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $99.33 and traded as high as $104.79. Liberty Media Corporation - Liberty Formula One Series C shares last traded at $100.90, with a volume of 834,440 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FWONK. Wells Fargo & Company upped their target price on Liberty Media Corporation - Liberty Formula One Series C from $80.00 to $87.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Sanford C. Bernstein raised Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. Wall Street Zen downgraded Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target on 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. Finally, Susquehanna increased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $121.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $103.00.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

The company's fifty day simple moving average is $99.84 and its 200-day simple moving average is $93.64. The firm has a market capitalization of $25.81 billion, a PE ratio of -258.68 and a beta of 0.47.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.23. The company had revenue of $447.00 million for the quarter, compared to analysts' expectations of $440.80 million. As a group, equities research analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

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

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Chase Carey sold 50,000 shares of the business'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 value of $4,730,000.00. Following the sale, the director owned 93,102 shares of the company's stock, valued at $8,807,449.20. The trade was 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 available through this link. Insiders own 4.31% of the company's stock.

Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Institutional investors and hedge funds have recently modified their holdings of the company. Greenwood Gearhart Inc. boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.7% during the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock worth $16,764,000 after buying an additional 4,761 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock worth $37,529,000 after buying an additional 4,897 shares during the period. Allstate Corp acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth about $571,000. California State Teachers Retirement System boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after buying an additional 6,297 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% during the first quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock worth $194,000 after buying an additional 2,013 shares during the period. Institutional investors and hedge funds own 92.26% of the company's stock.

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.