Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Liberty Media’s Formula One Series C (NASDAQ:FWONK) from a "hold" to a "sell" in a report issued on Saturday.
• Analysts are mixed—Wells Fargo and Sanford Bernstein recently raised ratings/targets while JPMorgan cut its price target to $115 but kept an "overweight" view; MarketBeat shows an average rating of "Moderate Buy" and an average price target of $111.78.
• Shares opened at $81.63 (market cap $18.29B) and trade well below the average target and the 12‑month high of $109.36; the stock has a P/E of 37.1 and institutional ownership of about 92.26%.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other research analysts also recently commented on the company. Wells Fargo & Company raised Liberty Media Corporation - Liberty Formula One Series C from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $93.00 to $95.00 in a research note on Friday, February 27th. Sanford C. Bernstein raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $122.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $111.78.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

Shares of Liberty Media Corporation - Liberty Formula One Series C stock opened at $81.63 on Friday. The stock has a market capitalization of $18.29 billion, a P/E ratio of 37.10, a PEG ratio of 14.97 and a beta of 0.44. The business has a 50 day simple moving average of $86.44 and a two-hundred day simple moving average of $94.10. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in FWONK. Principal Securities Inc. lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company's stock valued at $466,000 after acquiring an additional 118 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 2.3% during the third quarter. Axxcess Wealth Management LLC now owns 5,287 shares of the company's stock worth $552,000 after acquiring an additional 119 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 26.6% during the fourth quarter. Farther Finance Advisors LLC now owns 571 shares of the company's stock worth $56,000 after acquiring an additional 120 shares during the last quarter. Compound Planning Inc. raised its position in Liberty Media Corporation - Liberty Formula One Series C by 6.1% in the third quarter. Compound Planning Inc. now owns 2,094 shares of the company's stock valued at $219,000 after purchasing an additional 121 shares during the period. Finally, Yousif Capital Management LLC raised its position in Liberty Media Corporation - Liberty Formula One Series C by 4.7% in the third quarter. Yousif Capital Management LLC now owns 2,741 shares of the company's stock valued at $286,000 after purchasing an additional 124 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

Liberty Media Corporation - Liberty Formula One Series C NASDAQ: FWONK is a tracking stock that represents Liberty Media's economic interest in the Formula One Group, the commercial operator of the FIA Formula One World Championship. Liberty Media is a diversified media and entertainment company that owns and manages a portfolio of media, communications and entertainment businesses. The Formula One Group conducts the commercial activities of one of the world's largest motor sports properties, packaging live races, media rights, sponsorships, licensing and related consumer products around a global sporting calendar.

The Formula One business comprises the sale and distribution of broadcast and digital media rights, race promotion and event management, sponsorship and brand partnerships, merchandising and licensing, and direct-to-consumer digital products and services.

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