Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Bumped Down to Strong Sell by Wall Street Zen

Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) from a sell rating to a strong sell rating in a research report report published on Sunday,Wall Street Zen reports.

Several other brokerages have also recently issued reports on FWONK. 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 company a “buy” rating in a report 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 company a “buy” rating in a research report on Monday, August 17th. Wells Fargo & Company cut their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 29th. Sanford C. Bernstein lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C has a consensus rating of “Moderate Buy” and an average price target of $116.29.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK opened at $94.04 on Friday. The stock has a 50 day moving average price of $97.94 and a 200 day moving average price of $93.68. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 138.29 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $107.31.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $952.78 million. On average, equities analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 18.8% during the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock worth $104,000 after purchasing an additional 178 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.3% during the first quarter. NewEdge Wealth LLC now owns 6,142 shares of the company’s stock worth $522,000 after purchasing an additional 196 shares during the period. Assetmark Inc. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 25.1% during the first quarter. Assetmark Inc. now owns 1,162 shares of the company’s stock worth $99,000 after purchasing an additional 233 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 4.8% during the first quarter. QRG Capital Management Inc. now owns 6,561 shares of the company’s stock worth $558,000 after purchasing an additional 303 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter worth $32,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C represents a non-voting tracking stock associated with the company’s Formula One Group. The group’s principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship’s commercial rights.

Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.