Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Sets New 12-Month High - Time to Buy?

Key Points

• FWONK reached a new 52-week high of $108.35, and last traded at $105.63, up from its previous close of $98.93.
• Analysts have a Moderate Buy consensus, with six Buy and four Hold ratings and an average price target of $115.50; recent recommendations ranged from upgrades to a Hold downgrade.
• The latest reported quarter fell short of expectations: EPS was $0.02 versus a $0.24 consensus, while revenue of $934 million missed estimates of $952.78 million.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) hit a new 52-week high during trading on Thursday. The company traded as high as $108.35 and last traded at $105.6310, with a volume of 1,240,893 shares traded. The stock had previously closed at $98.93.

Analysts Set New Price Targets

A number of brokerages recently issued reports 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Wednesday, July 29th. Sanford C. Bernstein upped their target price on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. UBS Group increased their price target on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company cut their price target on Liberty Media Corporation - Liberty Formula One Series C from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 29th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $115.50.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

The stock's fifty day moving average is $94.40 and its 200-day moving average is $92.01. The stock has a market capitalization of $23.77 billion, a PE ratio of 155.28 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to analysts' expectations of $952.78 million. On average, analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 2.00 EPS for the current year.

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

Institutional investors have recently bought and sold shares of the business. Resona Asset Management Co. Ltd. grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series C by 21.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 97,236 shares of the company's stock valued at $8,248,000 after purchasing an additional 17,405 shares during the last quarter. Braun Stacey Associates Inc. lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 13.5% during the 2nd quarter. Braun Stacey Associates Inc. now owns 313,855 shares of the company's stock worth $29,860,000 after buying an additional 37,375 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Liberty Media Corporation - Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company's stock worth $505,297,000 after buying an additional 645,996 shares in the last quarter. Junto Capital Management LP boosted its position in Liberty Media Corporation - Liberty Formula One Series C by 178.1% in the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company's stock valued at $162,431,000 after buying an additional 1,093,372 shares during the last quarter. Finally, SEB Asset Management AB bought a new position in Liberty Media Corporation - Liberty Formula One Series C in the 1st quarter valued at $5,370,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation's Liberty Formula One Series C tracking stock represents an economic interest in the company's Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport's international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.

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