Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Issues Earnings Results

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) released its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09, FiscalAI reports. The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $683.42 million.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 5.4%

FWONK traded up $4.82 during trading on Thursday, hitting $93.48. The stock had a trading volume of 2,565,909 shares, compared to its average volume of 1,930,295. The firm has a market cap of $20.95 billion, a PE ratio of 42.49, a P/E/G ratio of 16.07 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $109.36. The company has a 50 day simple moving average of $86.78 and a 200-day simple moving average of $91.09.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Laird Norton Wetherby Trust Company LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth $369,000. Captrust Financial Advisors grew its position in Liberty Media Corporation – Liberty Formula One Series C by 5.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,492 shares of the company’s stock worth $365,000 after purchasing an additional 191 shares during the last quarter. Kestra Advisory Services LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 41.0% in the 4th quarter. Kestra Advisory Services LLC now owns 3,519 shares of the company’s stock worth $347,000 after purchasing an additional 1,024 shares during the last quarter. Arax Advisory Partners acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth $326,000. Finally, FORA Capital LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth $313,000. Institutional investors own 92.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FWONK shares. Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $110.00 to $111.00 in a research report on Monday, January 12th. Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Wells Fargo & Company cut their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. UBS Group cut their target price on shares of 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, Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has an average rating of “Moderate Buy” and a consensus target price of $110.78.

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.