Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) released its earnings results on Thursday. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09, FiscalAI reports. The business had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 1.0%

FWONK stock traded up $0.97 during trading on Friday, reaching $94.45. 2,735,688 shares of the company’s stock were exchanged, compared to its average volume of 1,955,112. 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 fifty day moving average price is $86.78 and its 200-day moving average price is $91.09. The firm has a market cap of $21.17 billion, a PE ratio of 43.33, a P/E/G ratio of 17.12 and a beta of 0.44.

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

A number of hedge funds and other institutional investors have recently modified their holdings of FWONK. Invesco Ltd. lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after purchasing an additional 170,435 shares during the period. Cresset Asset Management LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $502,000. Daiwa Securities Group Inc. raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock worth $3,902,000 after buying an additional 6,285 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $1,863,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $1,255,000. 92.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company raised their price target on 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. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their target price for the company from $110.00 to $111.00 in a research note on Monday, January 12th. JPMorgan Chase & Co. reduced their price target 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. 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, Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.67.

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.