Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target Raised to $97.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target raised by Wells Fargo & Company from $89.00 to $97.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

FWONK has been the subject of a number of other reports. UBS Group cut their price target on 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. JPMorgan Chase & Co. cut their price target on 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. Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $111.00 in a report on Monday, January 12th. Finally, Weiss Ratings raised 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. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of NASDAQ FWONK opened at $94.45 on Friday. The stock has a market cap of $21.18 billion, a PE ratio of 43.33, a PEG ratio of 17.12 and a beta of 0.44. The business has a fifty day moving average of $86.78 and a two-hundred day moving average of $91.09. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) 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 the consensus estimate of $683.42 million. Analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.69 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banco Santander S.A. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $1,685,000. Cantillon Capital Management LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $121,803,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $3,414,000. JPMorgan Chase & Co. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock worth $37,375,000 after buying an additional 89,673 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,417,770 shares of the company’s stock worth $2,132,636,000 after buying an additional 117,804 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.