Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Share Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Liberty Media Corporation - Liberty Formula One Series C's stock has fallen below its 50-day moving average of $101.44, currently trading at $101.07 with a recent low of $98.54.
• Analysts have mixed ratings on the stock, with price targets ranging from $86.00 to $121.00, and an average consensus price target of $111.22.
• The company reported strong quarterly earnings on August 7, with earnings per share of $1.52, significantly exceeding the expectations of $0.81.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report)'s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $101.44 and traded as low as $98.54. Liberty Media Corporation - Liberty Formula One Series C shares last traded at $101.07, with a volume of 940,847 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on FWONK shares. Guggenheim raised their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Sanford C. Bernstein upgraded shares of Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a report on Wednesday, June 4th. UBS Group increased their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Rosenblatt Securities increased their price objective 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. Finally, Zacks Research upgraded shares of Liberty Media Corporation - Liberty Formula One Series C to a "strong-buy" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.1%

The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 98.59 and a beta of 0.46. The stock's fifty day moving average is $101.17 and its 200-day moving average is $95.00.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.71. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. As a group, equities research analysts predict 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 related news, Director Malcolm Ian Grant Gilchrist sold 868 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.11, for a total transaction of $84,291.48. Following the completion of the sale, the director directly owned 1,781 shares of the company's stock, valued at approximately $172,952.91. This represents a 32.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Liberty Media Corporation - Liberty Formula One Series C

Several hedge funds have recently bought and sold shares of the stock. Schroder Investment Management Group raised its holdings in Liberty Media Corporation - Liberty Formula One Series C by 4.9% during the 2nd quarter. Schroder Investment Management Group now owns 8,656,971 shares of the company's stock worth $904,653,000 after buying an additional 402,705 shares during the period. Geode Capital Management LLC boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,846,280 shares of the company's stock worth $400,694,000 after buying an additional 126,501 shares during the period. Bank of America Corp DE boosted its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 3.8% during the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company's stock worth $278,594,000 after buying an additional 98,354 shares during the period. Norges Bank acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth about $208,588,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,916,759 shares of the company's stock worth $200,301,000 after acquiring an additional 12,466 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.