Wall Street Zen Upgrades Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) to "Hold"

Key Points

• Wall Street Zen upgraded Liberty Media Formula One Series C (NASDAQ:FWONK) from “sell” to “hold”, adding to a mixed analyst picture on the stock.
• The broader analyst consensus remains Moderate Buy, with six Buy ratings and five Hold ratings, and an average price target of $111.67.
• FWONK shares were up 1.0% to $94.45 after the company recently reported better-than-expected quarterly earnings and revenue.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on FWONK. Sanford C. Bernstein raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $110.00 to $111.00 in a report on Monday, January 12th. UBS Group reduced their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $107.00 to $104.00 and set a "neutral" rating for the company in a report on Wednesday, April 15th. Wells Fargo & Company increased their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday. Weiss Ratings raised shares of Liberty Media Corporation - Liberty Formula One Series C from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced 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 for the company in a report on Thursday, March 19th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.67.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 1.0%

Shares of NASDAQ FWONK opened at $94.45 on Friday. The firm has a 50 day moving average of $86.78 and a 200 day moving average of $91.09. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 43.33, a price-to-earnings-growth ratio of 16.95 and a beta of 0.44. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to analysts' expectations of $683.42 million. Sell-side analysts predict that Liberty Media Corporation - Liberty Formula One Series C will post 1.69 EPS for the current year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT raised its stake in Liberty Media Corporation - Liberty Formula One Series C by 172.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company's stock valued at $29,000 after purchasing an additional 188 shares during the period. Advisory Services Network LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at approximately $34,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at approximately $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 2nd quarter valued at approximately $39,000. Finally, Root Financial Partners LLC bought a new stake in Liberty Media Corporation - Liberty Formula One Series C during the 3rd quarter valued at approximately $41,000. 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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