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

Key Points

• Wall Street Zen has downgraded Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) from a "buy" rating to a "hold" rating as of Saturday.
• While Wall Street Zen downgraded the stock, analysts from firms like Rosenblatt Securities and Susquehanna have raised their price targets, with average stock targets hovering around $111.22.
• Liberty Media reported earnings of $1.52 EPS for the last quarter, exceeding estimates, and has a current stock price of approximately $99.44.

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

Several other research firms have also recently weighed in on FWONK. Bank of America initiated coverage on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Monday, August 4th. They issued a "neutral" rating and a $110.00 price target on the stock. Guggenheim lifted their price target on Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Tuesday, July 22nd. Sanford C. Bernstein upgraded Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a research report on Wednesday, June 4th. Finally, UBS Group boosted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 1.9%

Shares of FWONK stock traded up $1.86 during trading on Friday, reaching $102.36. 447,237 shares of the company's stock were exchanged, compared to its average volume of 1,156,302. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $74.34 and a twelve month high of $106.26. The firm's fifty day moving average price is $100.80 and its 200-day moving average price is $95.26. The stock has a market capitalization of $22.89 billion, a PE ratio of 100.39 and a beta of 0.46.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.71. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, analysts anticipate that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Insider Activity at Liberty Media Corporation - Liberty Formula One Series C

In other news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $100.20, for a total transaction of $89,979.60. Following the completion of the sale, the director directly owned 1,781 shares in the company, valued at $178,456.20. This represents a 33.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 5,651 shares of company stock valued at $572,250.

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

Institutional investors and hedge funds have recently modified their holdings of the business. GW&K Investment Management LLC bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series C in the 1st quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Liberty Media Corporation - Liberty Formula One Series C in the second quarter worth $29,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C in the second quarter valued at $38,000. Osterweis Capital Management Inc. acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the second quarter valued at about $46,000. 92.26% of the stock is currently owned by institutional investors.

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.