Guggenheim Forecasts Strong Price Appreciation for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target raised by research analysts at Guggenheim from $124.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 20.93% from the company’s current price.

A number of other research firms also recently issued reports on FWONK. Bank of America lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. UBS Group dropped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Wells Fargo & Company upped 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 note on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Sanford C. Bernstein raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 2.1%

FWONK stock traded up $2.16 during trading on Wednesday, reaching $103.36. 221,954 shares of the stock were exchanged, compared to its average volume of 2,041,563. 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 firm’s 50 day moving average is $93.33 and its 200 day moving average is $89.63. The firm has a market cap of $23.16 billion, a P/E ratio of 47.34 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $683.42 million. As a group, analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

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

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

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

Several institutional investors have recently bought and sold shares of the stock. Zions Bancorporation National Association UT raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after acquiring an additional 188 shares in the last quarter. Allied Private Wealth LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at $32,000. Advisory Services Network LLC bought a new stake 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 shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $38,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $39,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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.