Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Upgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) from an underweight rating to an equal weight rating in a research note published on Friday, MarketBeat reports. The brokerage currently has $95.00 price objective on the stock, up from their prior price objective of $93.00.

Several other equities analysts have also recently weighed in on FWONK. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $110.00 to $111.00 in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. increased their price objective on Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.56.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 5.8%

FWONK traded up $5.05 during trading on Friday, hitting $91.59. The stock had a trading volume of 4,970,819 shares, compared to its average volume of 2,128,612. The firm has a market cap of $22.90 billion, a PE ratio of 41.63 and a beta of 0.48. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $75.26 and a 12 month high of $109.36. The company has a 50 day simple moving average of $90.41 and a 200-day simple moving average of $96.28.

Insider Activity

In related news, Director Chase Carey sold 83,536 shares of the firm’s 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 completion of the sale, the director directly owned 94,356 shares in the company, valued at approximately $9,147,814.20. This trade represents a 46.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Zions Bancorporation National Association UT boosted its holdings in shares of 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 acquiring an additional 188 shares during the period. Advisory Services Network LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth approximately $34,000. Headlands Technologies LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter worth approximately $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $39,000. Finally, Root Financial Partners LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter valued at $41,000. 92.26% of the stock is owned by 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.