Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Raised to “Sell” at Wall Street Zen

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Susquehanna dropped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating on the stock in a report on Friday, October 16th. UBS Group boosted their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Sanford C. Bernstein upped their price target 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. Guggenheim upped their price target 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 report on Monday, August 17th. Finally, Zacks Research downgraded Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 29th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has an average rating of “Moderate Buy” and a consensus price target of $117.62.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ:FWONK opened at $106.33 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 12 month low of $80.15 and a 12 month high of $108.35. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 122.22 and a beta of 0.46. The company’s 50 day moving average is $94.54 and its 200-day moving average is $92.18.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The firm had revenue of $934.00 million for the quarter, compared to analyst estimates of $952.78 million. Research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2.01 EPS for the current fiscal year.

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

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the first quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock worth $925,299,000 after purchasing an additional 302,191 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after buying an additional 645,996 shares in the last quarter. Bank of America Corp DE increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 43.2% in the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock valued at $387,845,000 after buying an additional 1,376,984 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 58.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock valued at $202,919,000 after buying an additional 819,363 shares during the period. Finally, Junto Capital Management LP increased its holdings in Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the 2nd quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock valued at $162,431,000 after buying an additional 1,093,372 shares during the period. 92.26% of the stock is owned by institutional investors.

Key Stories Impacting Liberty Media Corporation – Liberty Formula One Series C

Here are the key news stories impacting Liberty Media Corporation – Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.