Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target Raised to $110.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target raised by research analysts at UBS Group from $104.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 6.95% from the company’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on 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. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Wall Street Zen raised 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. Sanford C. Bernstein lifted their target price 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 research report on Tuesday, July 28th. Finally, Guggenheim lifted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.50.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock traded up $3.16 during midday trading on Friday, reaching $102.85. 2,170,043 shares of the stock were exchanged, compared to its average volume of 2,072,947. Liberty Media Corporation – Liberty Formula One Series C has a 52 week low of $80.15 and a 52 week high of $109.36. The firm has a market cap of $23.05 billion, a PE ratio of 47.18 and a beta of 0.43. The company’s fifty day moving average is $94.78 and its 200-day moving average is $90.13.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its 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 company had revenue of $934.00 million during the quarter, compared to analyst estimates of $952.78 million. On average, sell-side analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 earnings per share for the current fiscal year.

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

In related news, insider Renee L. Wilm sold 11,597 shares of the firm’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 approximately $1,404,503.10. This trade represents a 42.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 $8,518,459.68. The trade was a 51.45% decrease in their position. The SEC filing for this sale provides additional information. 4.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FWONK. Principal Securities Inc. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 2.6% in the fourth quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock worth $466,000 after purchasing an additional 118 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after buying an additional 120 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.7% during the 4th quarter. Blair William & Co. IL now owns 5,175 shares of the company’s stock valued at $510,000 after buying an additional 135 shares in the last quarter. Clearstead Advisors LLC grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.4% in the 4th quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock worth $1,016,000 after buying an additional 141 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company’s stock worth $3,234,000 after buying an additional 149 shares during the period. 92.26% of the stock is owned by hedge funds and other institutional investors.

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.