Liberty Media Corporation – Liberty Formula One Series C (FWONK) Projected to Announce Earnings on Thursday

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) is expected to be posting its results before the market opens on Thursday, August 6th. Analysts expect the company to post earnings of $0.2503 per share and revenue of $953.8320 million for the quarter.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million for the quarter, compared to the consensus estimate of $683.42 million. On average, analysts expect Liberty Media Corporation – Liberty Formula One Series C to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock opened at $96.43 on Wednesday. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 44.23 and a beta of 0.43. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The firm’s 50-day simple moving average is $94.25 and its two-hundred day simple moving average is $89.93.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Wells Fargo & Company increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Sanford C. Bernstein boosted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Finally, 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. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other news, insider Renee L. Wilm sold 11,597 shares of the firm’s 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 transaction, the insider directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the transaction, the director owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FWONK. Invesco Ltd. increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the second quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock valued at $52,701,000 after buying an additional 170,435 shares during the period. Cresset Asset Management LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $502,000. Daiwa Securities Group Inc. boosted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock valued at $3,902,000 after acquiring an additional 6,285 shares during the period. Qube Research & Technologies Ltd purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $1,863,000. Finally, Squarepoint Ops LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $1,255,000. Institutional investors own 92.26% of the company’s stock.

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.