JPMorgan Chase & Co. Lowers Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target to $115.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $122.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 37.87% from the stock’s previous close.

Several other brokerages also recently weighed in on FWONK. Wells Fargo & Company upgraded Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $93.00 to $95.00 in a research note on Friday, February 27th. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $110.00 to $111.00 in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.78.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Liberty Media Corporation – Liberty Formula One Series C stock traded down $1.77 during midday trading on Thursday, hitting $83.41. 1,629,057 shares of the stock were exchanged, compared to its average volume of 2,206,616. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36. The firm has a market cap of $18.69 billion, a P/E ratio of 37.91, a P/E/G ratio of 12.62 and a beta of 0.44. The company has a 50 day moving average price of $87.50 and a two-hundred day moving average price of $94.93.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after purchasing an additional 188 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $34,000. Headlands Technologies LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $38,000. Osterweis Capital Management Inc. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the second quarter worth about $39,000. Finally, Root Financial Partners LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $41,000. 92.26% of the stock is owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.