Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Releases Earnings Results, Beats Expectations By $0.09 EPS

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

Liberty Media Corporation – Liberty Formula One Series C Trading Up 1.0%

Liberty Media Corporation – Liberty Formula One Series C stock traded up $0.97 during trading hours on Friday, reaching $94.45. 2,735,688 shares of the stock were exchanged, compared to its average volume of 1,955,112. The company has a market cap of $21.17 billion, a P/E ratio of 43.33, a price-to-earnings-growth ratio of 17.12 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $80.15 and a twelve month high of $109.36. The stock has a 50 day moving average of $86.78 and a two-hundred day moving average of $91.09.

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

Large investors have recently bought and sold shares of the company. Zions Bancorporation National Association UT grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 172.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock worth $29,000 after buying an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $38,000. Osterweis Capital Management Inc. acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 70.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 425 shares of the company’s stock worth $42,000 after buying an additional 175 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised 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. Wells Fargo & Company boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $110.00 to $111.00 in a research report on Monday, January 12th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.67.

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.