Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Sets New 1-Year High After Analyst Upgrade

Key Points

• FWONK hit a new 52-week high after TD Cowen raised its price target from $118 to $125 and maintained a Buy rating; shares reached $109.92.
• Analyst sentiment is moderately positive: seven analysts rate the stock Buy and four Hold, with a consensus price target of $118.44.
• Institutional investors and hedge funds own 92.26% of the shares, and several funds reported modestly increasing their holdings.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) reached a new 52-week high on Wednesday after TD Cowen raised their price target on the stock from $118.00 to $125.00. TD Cowen currently has a buy rating on the stock. Liberty Media Corporation - Liberty Formula One Series C traded as high as $109.92 and last traded at $108.8180, with a volume of 1,368 shares trading hands. The stock had previously closed at $108.94.

Several other brokerages have also commented on FWONK. Zacks Research lowered Liberty Media Corporation - Liberty Formula One Series C from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 29th. Wells Fargo & Company upped their price objective on Liberty Media Corporation - Liberty Formula One Series C from $96.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Friday, November 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research note on Wednesday, July 29th. Susquehanna lowered their target price on Liberty Media Corporation - Liberty Formula One Series C from $114.00 to $110.00 and set a "positive" rating for the company in a research report on Friday, October 16th. Finally, Guggenheim raised their price objective on Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.44.

Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Hedge funds have recently made changes to their positions in the company. MGO One Seven LLC increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.4% in the third quarter. MGO One Seven LLC now owns 8,456 shares of the company's stock worth $781,000 after acquiring an additional 113 shares during the period. Yousif Capital Management LLC lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 4.2% during the third quarter. Yousif Capital Management LLC now owns 3,034 shares of the company's stock valued at $280,000 after purchasing an additional 123 shares in the last quarter. Parcion Private Wealth LLC increased its stake in Liberty Media Corporation - Liberty Formula One Series C by 6.4% during the 3rd quarter. Parcion Private Wealth LLC now owns 2,550 shares of the company's stock worth $236,000 after buying an additional 153 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 18.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock valued at $104,000 after purchasing an additional 178 shares in the last quarter. Finally, NewEdge Wealth LLC boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 3.3% during the first quarter. NewEdge Wealth LLC now owns 6,142 shares of the company's stock worth $522,000 after acquiring an additional 196 shares during the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 0.0%

The firm has a market capitalization of $24.44 billion, a PE ratio of 125.36 and a beta of 0.46. The business has a 50-day moving average price of $94.85 and a 200-day moving average price of $92.38.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Liberty Media Corporation's Liberty Formula One Series C stock NASDAQ: FWONK is a tracking stock associated with the company's Formula One Group. The group's principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship's commercial rights, including media, sponsorship, licensing and race-promotion activities. Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.

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