Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Posts Earnings Results, Misses Expectations By $0.18 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) issued its earnings results on Wednesday. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18), Zacks reports. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.2%

FWONK traded down $1.22 during midday trading on Friday, hitting $102.00. The company had a trading volume of 1,899,612 shares, compared to its average volume of 1,554,471. The company has a market capitalization of $22.81 billion, a price-to-earnings ratio of 130.77 and a beta of 0.46. The stock’s 50 day moving average price is $101.40 and its 200 day moving average price is $99.55. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $75.26 and a 52 week high of $109.36.

Insider Transactions at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,651 shares of company stock valued at $572,250 in the last 90 days. 4.31% of the stock is currently owned by corporate insiders.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 5.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,492 shares of the company’s stock valued at $365,000 after buying an additional 191 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 30.4% during the second quarter. Geneos Wealth Management Inc. now owns 833 shares of the company’s stock worth $87,000 after purchasing an additional 194 shares during the period. Vident Advisory LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 6.9% in the 2nd quarter. Vident Advisory LLC now owns 4,283 shares of the company’s stock valued at $448,000 after buying an additional 277 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth about $38,000. Finally, Osterweis Capital Management Inc. bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America initiated coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, August 4th. They set a “neutral” rating and a $110.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a research report on Thursday. The Goldman Sachs Group reiterated a “buy” rating and issued a $120.00 price target on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Tuesday, July 22nd. Guggenheim lifted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.11.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.