JPMorgan Chase & Co. Issues Pessimistic Forecast for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price reduced by research analysts at JPMorgan Chase & Co. from $115.00 to $111.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 21.24% from the stock’s previous close.

Several other brokerages have also recently commented on FWONK. Weiss Ratings raised 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. Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. UBS Group reduced their price objective on 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, Wells Fargo & Company lifted their price objective on 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, May 8th. Six 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.22.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 0.5%

Shares of Liberty Media Corporation – Liberty Formula One Series C stock traded up $0.50 during midday trading on Friday, hitting $91.56. The company’s stock had a trading volume of 118,437 shares, compared to its average volume of 2,063,868. The firm has a market capitalization of $20.52 billion, a P/E ratio of 42.00 and a beta of 0.44. The stock has a 50-day simple moving average of $88.02 and a 200-day simple moving average of $90.28. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. As a group, sell-side analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 earnings per share for the current year.

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

In related news, 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 stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.31% of the company’s stock.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

A number of institutional investors have recently bought and sold shares of the company. Axiom Investment Management LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the first quarter valued at $510,000. Western Wealth Management LLC bought a new position in Liberty Media Corporation – Liberty Formula One Series C during the first quarter valued at about $109,000. Bank of America Corp DE raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after buying an additional 1,376,984 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 2.9% during the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after buying an additional 302,191 shares in the last quarter. Finally, Amundi raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 36.1% during the first quarter. Amundi now owns 759,738 shares of the company’s stock valued at $64,593,000 after buying an additional 201,643 shares in the last quarter. Institutional investors and hedge funds 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.