Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Rating Lowered to Hold at Zacks Research

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

A number of other equities analysts also recently issued reports on FWONK. Sanford C. Bernstein raised their price target on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Guggenheim increased their target price on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 17th. Finally, Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 11th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

NASDAQ:FWONK opened at $92.47 on Thursday. The firm has a market cap of $20.74 billion, a P/E ratio of 135.99 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $107.31. The firm has a 50-day simple moving average of $94.94 and a two-hundred day simple moving average of $91.92.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Allied Private Wealth LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $32,000. Anchor Investment Management LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth approximately $39,000. IFP Advisors Inc raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 148.5% during the 3rd quarter. IFP Advisors Inc now owns 420 shares of the company’s stock worth $39,000 after acquiring an additional 251 shares during the period. WPG Advisers LLC lifted its holdings in Liberty Media Corporation – Liberty Formula One Series C by 585.1% during the third quarter. WPG Advisers LLC now owns 459 shares of the company’s stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. Finally, Signaturefd LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at approximately $43,000. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.