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

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) shares passed 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.

Analysts Set New Price Targets

Several analysts recently commented on FWONK shares. JPMorgan Chase & Co. lifted their price objective on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Wells Fargo & Company increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $80.00 to $87.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Rosenblatt Securities raised their price target on Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Sanford C. Bernstein upgraded Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. Finally, Susquehanna lifted their price target on 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, June 25th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $103.00.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

The firm has a market cap of $25.27 billion, a PE ratio of -253.30 and a beta of 0.47. The company's 50 day moving average price is $99.49 and its 200 day moving average price is $93.50.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.23. The company had revenue of $447.00 million for the quarter, compared to analyst estimates of $440.80 million. Sell-side 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

In related news, Director Chase Carey sold 50,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 93,102 shares in the company, valued at $8,807,449.20. The trade was a 34.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

Several hedge funds have recently modified their holdings of the stock. Allstate Corp purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 4th quarter valued at approximately $571,000. Greenwood Gearhart Inc. grew its stake in Liberty Media Corporation - Liberty Formula One Series C by 2.7% in the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock worth $16,764,000 after purchasing an additional 4,761 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock valued at $37,529,000 after buying an additional 4,897 shares during the last quarter. California State Teachers Retirement System raised its stake in 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 valued at $32,518,000 after buying an additional 6,297 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% during the 1st 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 last quarter. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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.