Sanford C. Bernstein Issues Positive 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 price target hoisted by equities research analysts at Sanford C. Bernstein from $115.00 to $119.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 17.38% from the stock’s current price.

A number of other research firms also recently issued reports on FWONK. JPMorgan Chase & Co. increased their price target on Liberty Media Corporation – Liberty Formula One Series C from $111.00 to $124.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. UBS Group lowered their price objective on shares of 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 note on Wednesday, April 15th. Wells Fargo & Company increased their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Bank of America raised 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 research report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.80.

Liberty Media Corporation – Liberty Formula One Series C Stock Up 3.1%

NASDAQ:FWONK traded up $3.05 during midday trading on Tuesday, hitting $101.38. The stock had a trading volume of 307,216 shares, compared to its average volume of 2,045,888. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The company has a market capitalization of $22.72 billion, a price-to-earnings ratio of 46.47 and a beta of 0.44. The stock has a 50-day moving average of $93.11 and a 200 day moving average of $89.57.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. On average, sell-side analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value 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 SEC filing for this sale provides additional information.

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

Several institutional investors have recently added to or reduced their stakes in FWONK. Zions Bancorporation National Association UT increased 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 valued at $29,000 after acquiring an additional 188 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth approximately $32,000. Advisory Services Network LLC purchased 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 position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at approximately $38,000. Finally, Osterweis Capital Management Inc. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

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.