Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Lowered 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 equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also issued reports on FWONK. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $120.00 price target on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Tuesday, July 22nd. Susquehanna lifted their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $121.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. Wells Fargo & Company cut their price target on shares of Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating on the stock in a report on Friday, August 8th. Bank of America started 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. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation - Liberty Formula One Series C to a "hold" rating in a report on Wednesday, June 4th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, Liberty Media Corporation - Liberty Formula One Series C presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.22.

Liberty Media Corporation - Liberty Formula One Series C Stock Up 1.6%

FWONK stock traded up $1.66 during trading on Friday, hitting $103.68. 837,134 shares of the company's stock traded hands, compared to its average volume of 894,077. The firm has a market capitalization of $23.19 billion, a P/E ratio of 101.65 and a beta of 0.46. The business has a fifty day simple moving average of $100.80 and a two-hundred day simple moving average of $95.37. Liberty Media Corporation - Liberty Formula One Series C has a 1 year low of $74.34 and a 1 year high of $106.26.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.71. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.28 billion. On average, equities research analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $100.20, for a total value of $89,979.60. Following the sale, the director directly owned 1,781 shares of the company's stock, valued at approximately $178,456.20. This represents a 33.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 5,651 shares of company stock valued at $572,250 over the last 90 days. 4.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Several hedge funds have recently added to or reduced their stakes in FWONK. GW&K Investment Management LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 1st quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth about $29,000. Headlands Technologies LLC acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter worth about $38,000. Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at about $46,000. 92.26% of the stock is owned by hedge funds and other 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.