Brokerages Set Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Target Price at $117.57

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $117.5714.

FWONK has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, September 9th. They issued a “buy” rating and a $115.00 price objective for the company. Sanford C. Bernstein lifted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Bank of America upped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Guggenheim increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, UBS Group raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, August 7th.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 0.4%

FWONK opened at $94.54 on Wednesday. The stock’s 50-day moving average price is $99.49 and its 200 day moving average price is $92.69. 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 firm has a market cap of $21.21 billion, a price-to-earnings ratio of 139.03 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. On average, research analysts forecast that Liberty Media Corporation – Liberty Formula One Series C will post 2 earnings per share for the current year.

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

Several hedge funds have recently modified their holdings of FWONK. Franklin Resources Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series C by 265.1% in the 4th quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock valued at $114,192,000 after purchasing an additional 841,729 shares in the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth about $297,358,000. Braun Stacey Associates Inc. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.3% during the first quarter. Braun Stacey Associates Inc. now owns 276,480 shares of the company’s stock worth $23,506,000 after buying an additional 14,039 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 21.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 97,236 shares of the company’s stock worth $8,248,000 after buying an additional 17,405 shares in the last quarter. Finally, Credit Industriel ET Commercial purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the first quarter worth approximately $1,522,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Group, represented by the Series C Liberty Formula One common stock (NASDAQ: FWONK), is a tracking-stock group tied primarily to the company’s interests in Formula 1. The group’s principal business is the ownership and operation of the Formula 1 racing series, including its commercial rights, media and broadcasting activities, race promotion, sponsorship programs and digital products.

Formula 1 organizes the FIA Formula One World Championship, an international motorsport series featuring races hosted in markets across Europe, North America, Asia, the Middle East and other regions.