Wells Fargo & Company 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 objective lifted by stock analysts at Wells Fargo & Company from $96.00 to $113.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.84% from the company’s current price.

FWONK has been the subject of several other research reports. Susquehanna decreased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating for the company in a research note on Friday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Guggenheim upped 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 research report on Monday, August 17th. Jefferies Financial Group started coverage on Liberty Media Corporation – Liberty Formula One Series C in a report on Wednesday, September 9th. They set a “buy” rating and a $115.00 target price for the company. Finally, Wall Street Zen lowered 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.62.

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

FWONK traded down $1.73 during trading on Friday, reaching $104.79. The company had a trading volume of 265,313 shares, compared to its average volume of 2,144,257. The business has a 50 day simple moving average of $94.46 and a 200-day simple moving average of $92.10. The stock has a market cap of $23.51 billion, a P/E ratio of 154.66 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $108.35.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.13). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. As a group, equities research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. CENTRAL TRUST Co acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at $212,000. Maryland State Retirement & Pension System raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 12.4% in the third quarter. Maryland State Retirement & Pension System now owns 13,659 shares of the company’s stock worth $1,262,000 after acquiring an additional 1,508 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the third quarter worth about $1,249,000. Allspring Global Investments Holdings LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 58.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock worth $202,919,000 after acquiring an additional 819,363 shares during the period. Finally, Accuvest Global Advisors raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 46.3% in the third quarter. Accuvest Global Advisors now owns 5,310 shares of the company’s stock worth $491,000 after acquiring an additional 1,681 shares during the period. 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’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.