JPMorgan Chase & Co. Issues Positive Forecast for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target increased by research analysts at JPMorgan Chase & Co. from $111.00 to $124.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 27.04% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings raised Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Bank of America raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 6th. UBS Group lowered their price objective 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 research report on Wednesday, April 15th. Finally, Wells Fargo & Company lifted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 1.6%

Shares of Liberty Media Corporation – Liberty Formula One Series C stock traded down $1.59 during mid-day trading on Tuesday, hitting $97.61. 241,182 shares of the stock were exchanged, compared to its average volume of 2,073,287. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 44.80 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The company has a 50-day simple moving average of $92.46 and a 200 day simple moving average of $89.59.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. Equities research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Renee L. Wilm sold 11,597 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the sale, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This trade represents a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing.

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

Institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock valued at $29,000 after buying an additional 188 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $32,000. Advisory Services Network LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $38,000. Finally, Osterweis Capital Management Inc. purchased a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

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.