Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Price Target Raised to $107.00

Key Points

• UBS Group has raised its price target for Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00, indicating a potential upside of 11.54% from the previous close.
• The company's stock received a consensus rating of "Moderate Buy" with a price target averaging at $109.89, based on various analysts' reports, including a "buy" rating from Rosenblatt Securities.
• Insider trading activity includes Director Chase Carey selling 50,000 shares for approximately $4.73 million, representing a significant decrease in his holdings.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Free Report) had its price objective hoisted by UBS Group from $98.00 to $107.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

FWONK has been the topic of a number of other reports. Wall Street Zen cut shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating on the stock in a research note on Friday. The Goldman Sachs Group reiterated a "buy" rating and issued a $120.00 target price on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. Bank of America assumed coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Monday, August 4th. They issued a "neutral" rating and a $110.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.89.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 1.7%

Liberty Media Corporation - Liberty Formula One Series C stock traded up $1.67 during midday trading on Friday, hitting $96.84. 89,872 shares of the stock were exchanged, compared to its average volume of 1,189,816. Liberty Media Corporation - Liberty Formula One Series C has a 52-week low of $74.34 and a 52-week high of $106.26. The stock has a market capitalization of $21.66 billion, a price-to-earnings ratio of 94.92 and a beta of 0.46. The business's 50-day moving average price is $101.10 and its 200-day moving average price is $94.62.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.71. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.28 billion. On average, sell-side analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FWONK. Greenwood Gearhart Inc. boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 2.7% in the 4th 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 holdings in Liberty Media Corporation - Liberty Formula One Series C by 1.2% in the 4th 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. California State Teachers Retirement System boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1.8% in the 4th 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. Versant Capital Management Inc boosted its holdings in 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 worth $194,000 after buying an additional 2,013 shares during the period. Finally, Praxis Investment Management Inc. boosted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 10.7% in the 1st quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock worth $888,000 after buying an additional 950 shares during the period. 92.26% of the stock is owned by institutional investors.

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.