Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Rated “Moderate Buy” by Wall Street Analysts

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $116.29.

FWONK has been the subject of several research reports. Zacks Research raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, July 29th. Sanford C. Bernstein boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Guggenheim boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company reduced their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 29th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC raised its position in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after buying an additional 302,191 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after acquiring an additional 645,996 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after acquiring an additional 1,376,984 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 17.8% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company’s stock worth $447,471,000 after acquiring an additional 688,000 shares in the last quarter. Finally, Berkshire Hathaway Inc bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth approximately $297,358,000. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK opened at $90.81 on Friday. The stock has a 50 day simple moving average of $97.52 and a 200 day simple moving average of $93.94. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $107.31. The firm has a market capitalization of $20.37 billion, a PE ratio of 133.68 and a beta of 0.46.

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

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C represents a non-voting tracking stock associated with the company’s Formula One Group. The group’s principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship’s commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.