Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price Up 5.7% on Analyst Upgrade

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) traded up 5.7% during mid-day trading on Friday after Wells Fargo & Company upgraded the stock from an underweight rating to an equal weight rating. Wells Fargo & Company now has a $95.00 price target on the stock, up from their previous price target of $93.00. Liberty Media Corporation – Liberty Formula One Series C traded as high as $91.57 and last traded at $91.45. 600,557 shares traded hands during trading, a decline of 69% from the average session volume of 1,968,208 shares. The stock had previously closed at $86.54.

A number of other equities research analysts also recently commented on FWONK. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and raised their target price for the company from $110.00 to $111.00 in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.30.

Insider Activity

In other news, Director Chase Carey sold 83,536 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total value of $8,098,815.20. Following the sale, the director directly owned 94,356 shares in the company, valued at $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.31% of the stock is owned by company insiders.

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

Large investors have recently bought and sold shares of the stock. Zions Bancorporation National Association UT raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after acquiring an additional 188 shares during the last quarter. Advisory Services Network LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at about $34,000. Headlands Technologies LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $38,000. Osterweis Capital Management Inc. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $39,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 5.5%

The business’s fifty day moving average price is $90.52 and its 200 day moving average price is $96.31. The firm has a market capitalization of $22.84 billion, a PE ratio of 117.11 and a beta of 0.48.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.