Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Announces Earnings Results, Misses Estimates By $0.18 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) issued its quarterly earnings results on Wednesday. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.18), Zacks reports. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of Liberty Media Corporation – Liberty Formula One Series C stock traded down $1.22 during trading hours on Friday, reaching $102.00. 1,899,612 shares of the company were exchanged, compared to its average volume of 1,554,471. The firm has a market cap of $22.81 billion, a PE ratio of 130.77 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $75.26 and a 1 year high of $109.36. The stock’s fifty day moving average is $101.40 and its 200 day moving average is $99.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the company an “underweight” rating in a research note on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $120.00 price target on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Tuesday, July 22nd. Zacks Research cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.11.

Insider Activity

In other news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $102.44, for a total value of $397,979.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 5,651 shares of company stock valued at $572,250. Company insiders own 4.31% of the company’s stock.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

A number of large investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 2,625.1% during the second quarter. Balyasny Asset Management L.P. now owns 220,733 shares of the company’s stock valued at $23,067,000 after buying an additional 212,633 shares during the period. Invesco Ltd. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% during the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock worth $52,701,000 after purchasing an additional 170,435 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 124.5% during the second quarter. Alliancebernstein L.P. now owns 258,350 shares of the company’s stock worth $26,998,000 after purchasing an additional 143,283 shares during the last quarter. Bank of America Corp DE grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.8% in the second quarter. Bank of America Corp DE now owns 2,665,969 shares of the company’s stock valued at $278,594,000 after purchasing an additional 98,354 shares during the period. Finally, ThornTree Capital Partners LP increased its stake in Liberty Media Corporation – Liberty Formula One Series C by 18.0% in the second quarter. ThornTree Capital Partners LP now owns 360,379 shares of the company’s stock valued at $37,660,000 after purchasing an additional 54,993 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.