Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Share Price Breaks Above Two Hundred Day Moving Average on Analyst Downgrade

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK)’s share price crossed above its 200-day moving average during trading on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of $91.91 and traded as high as $92.75. Liberty Media Corporation – Liberty Formula One Series C shares last traded at $92.61, with a volume of 2,342,423 shares.

A number of other research analysts also recently commented on the company. Bank of America increased their target price 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 report on Monday, July 6th. Wells Fargo & Company reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Tuesday, September 29th. JPMorgan Chase & Co. upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Jefferies Financial Group assumed coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, September 9th. They issued a “buy” rating and a $115.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.50.

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

Large investors have recently added to or reduced their stakes in the business. MGO One Seven LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 1.4% in the 3rd quarter. MGO One Seven LLC now owns 8,456 shares of the company’s stock valued at $781,000 after acquiring an additional 113 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 4.2% during the 3rd quarter. Yousif Capital Management LLC now owns 3,034 shares of the company’s stock valued at $280,000 after purchasing an additional 123 shares during the last quarter. Parcion Private Wealth LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 6.4% during the 3rd quarter. Parcion Private Wealth LLC now owns 2,550 shares of the company’s stock worth $236,000 after acquiring an additional 153 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 18.8% in the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock valued at $104,000 after buying an additional 178 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in Liberty Media Corporation – Liberty Formula One Series C by 3.3% in the 1st quarter. NewEdge Wealth LLC now owns 6,142 shares of the company’s stock worth $522,000 after purchasing an additional 196 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

The firm’s 50-day moving average price is $94.94 and its 200 day moving average price is $91.92. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 135.99 and a beta of 0.46.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $952.78 million. As a group, equities research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 EPS for the current fiscal year.

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C tracking stock represents an economic interest in the company’s Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport’s international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.