Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Receives $112.56 Average Target Price from Analysts

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $112.5556.

Several analysts have commented on the company. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $110.00 to $111.00 in a research note on Monday, January 12th. JPMorgan Chase & Co. boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Wells Fargo & Company upgraded Liberty Media Corporation – Liberty Formula One Series C from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $93.00 to $95.00 in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

NASDAQ FWONK opened at $91.09 on Friday. The firm’s fifty day moving average is $90.29 and its two-hundred day moving average is $96.20. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $75.26 and a one year high of $109.36. The firm has a market cap of $22.78 billion, a PE ratio of 41.40 and a beta of 0.44.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In other news, Director Chase Carey sold 83,536 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated 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 owned 94,356 shares of the company’s stock, valued at $9,147,814.20. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

Several institutional investors have recently made changes to their positions in FWONK. Vanguard Group Inc. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock valued at $2,081,841,000 after purchasing an additional 715,525 shares in the last quarter. Principal Financial Group Inc. grew its position in Liberty Media Corporation – Liberty Formula One Series C by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock worth $1,250,671,000 after buying an additional 129,822 shares during the period. Schroder Investment Management Group increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.1% in the third quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock valued at $923,656,000 after buying an additional 186,077 shares in the last quarter. Silver Point Capital L.P. purchased a new position in Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at about $302,000. Finally, Jericho Capital Asset Management L.P. lifted its position 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 valued at $447,471,000 after acquiring an additional 688,000 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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.