UBS Group Lowers Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Price Target to $104.00

Key Points

• UBS lowered its price target for Liberty Media’s Formula One Series C (NASDAQ: FWONK) from $107 to $104 and kept a "neutral" rating, implying about a 14.96% upside from the prior close.
• Analyst views are mixed but leaning positive: the consensus is a "Moderate Buy" with an average target of $110.78, while firms range from upgrades (Sanford Bernstein) to cuts (Wells Fargo, Wall Street Zen).
• FWONK traded at $90.47 (below the average target), has a market cap of about $20.3B and a P/E of 41.1, and is highly institutionally owned (approximately 92.26%).

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) had its price objective lowered by UBS Group from $107.00 to $104.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 14.96% from the company's previous close.

Several other brokerages have also recently issued reports on FWONK. JPMorgan Chase & Co. dropped their target price 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 report on Thursday, March 19th. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series C in a research report on Friday, March 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 upped their target price for the stock from $110.00 to $111.00 in a report on Monday, January 12th. Wells Fargo & Company cut their price target on Liberty Media Corporation - Liberty Formula One Series C from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 7th. Finally, Wall Street Zen cut Liberty Media Corporation - Liberty Formula One Series C from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series C presently has a consensus rating of "Moderate Buy" and an average target price of $110.78.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

NASDAQ FWONK traded down $0.30 during trading hours on Wednesday, hitting $90.47. The company's stock had a trading volume of 1,459,854 shares, compared to its average volume of 2,097,122. The company's 50 day simple moving average is $86.28 and its two-hundred day simple moving average is $92.74. The company has a market cap of $20.27 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 16.00 and a beta of 0.53. Liberty Media Corporation - Liberty Formula One Series C has a 12 month low of $78.28 and a 12 month high of $109.36.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Liberty Media Corporation - Liberty Formula One Series C by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company's stock valued at $2,081,841,000 after purchasing an additional 715,525 shares during the period. Principal Financial Group Inc. increased its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company's stock valued at $1,250,671,000 after purchasing an additional 129,822 shares during the last quarter. Schroder Investment Management Group raised its holdings in Liberty Media Corporation - Liberty Formula One Series C by 2.1% during the 3rd quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company's stock valued at $923,656,000 after buying an additional 186,077 shares during the period. Silver Point Capital L.P. purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the fourth quarter worth $302,000. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 17.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company's stock worth $447,471,000 after acquiring an additional 688,000 shares during the last quarter. Institutional investors 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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