Liberty Media Corporation – Liberty Formula One Series C (FWONK) to Announce Quarterly Earnings on Thursday

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) is anticipated to post its results before the market opens on Thursday, August 6th. Analysts expect the company to announce earnings of $0.2632 per share and revenue of $959.3320 million for the quarter.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. On average, analysts expect Liberty Media Corporation – Liberty Formula One Series C to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $101.82 on Thursday. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The company’s 50 day simple moving average is $93.56 and its 200 day simple moving average is $89.71. The company has a market capitalization of $22.82 billion, a price-to-earnings ratio of 46.71 and a beta of 0.44.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the sale, the insider owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 15.4% in the fourth quarter. Corient Private Wealth LLC now owns 27,605 shares of the company’s stock worth $2,719,000 after buying an additional 3,694 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,719 shares of the company’s stock valued at $1,647,000 after buying an additional 584 shares during the period. Naya Capital Management UK Ltd. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth approximately $208,238,000. Vident Advisory LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 3.0% during the 4th quarter. Vident Advisory LLC now owns 5,455 shares of the company’s stock worth $537,000 after acquiring an additional 161 shares in the last quarter. Finally, KKM Financial LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth approximately $6,156,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FWONK shares. Bank of America increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Guggenheim upped their target price on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings upgraded 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. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.