Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Price Expected to Rise, UBS Group Analyst Says

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 - Get Free Report) had its price target boosted by research analysts at UBS Group from $98.00 to $107.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 11.54% from the company's previous close.

Several other equities analysts have also issued reports on the stock. Bank of America assumed coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Monday. They issued a "neutral" rating and a $110.00 price target for the company. Rosenblatt Securities increased their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $102.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wells Fargo & Company cut their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating for the company in a report on Friday. The Goldman Sachs Group reissued a "buy" rating and issued a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Tuesday, July 22nd. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $109.89.

Liberty Media Corporation - Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK traded down $1.17 during trading on Friday, hitting $95.93. The company's stock had a trading volume of 898,310 shares, compared to its average volume of 1,190,934. The stock's 50-day moving average price is $101.13 and its two-hundred day moving average price is $94.53. Liberty Media Corporation - Liberty Formula One Series C has a fifty-two week low of $72.69 and a fifty-two week high of $106.26. The company has a market capitalization of $23.93 billion, a PE ratio of -240.14 and a beta of 0.46.

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 EPS 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 analyst estimates of $440.80 million. On average, equities analysts predict 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 Liberty Media Corporation - Liberty Formula One Series C stock in a transaction that occurred on 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 completion of the sale, the director directly owned 93,102 shares in the company, valued at $8,807,449.20. This trade represents a 34.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.31% of the company's stock.

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

Large investors have recently modified their holdings of the business. US Bancorp DE boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.9% in the second quarter. US Bancorp DE now owns 5,866 shares of the company's stock valued at $613,000 after purchasing an additional 110 shares during the period. Blair William & Co. IL grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 2.0% during the second quarter. Blair William & Co. IL now owns 6,016 shares of the company's stock worth $629,000 after acquiring an additional 118 shares during the last quarter. GAMMA Investing LLC grew its position in Liberty Media Corporation - Liberty Formula One Series C by 10.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,170 shares of the company's stock valued at $227,000 after buying an additional 213 shares during the last quarter. Golden State Equity Partners grew its position in Liberty Media Corporation - Liberty Formula One Series C by 6.0% in the 2nd quarter. Golden State Equity Partners now owns 3,998 shares of the company's stock valued at $418,000 after buying an additional 226 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $29,000. Hedge funds and other institutional investors 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.

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