Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) from a hold rating to a strong sell rating in a research note released on Saturday morning.

FWONK has been the subject of a number of other research reports. Guggenheim upped their price target on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. UBS Group boosted their price objective on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $102.73 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a 1 year low of $80.15 and a 1 year high of $109.36. The firm has a fifty day moving average price of $95.01 and a 200-day moving average price of $90.23. The company has a market cap of $23.02 billion, a price-to-earnings ratio of 151.07 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. Equities research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.93 EPS for the current year.

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

In other Liberty Media Corporation – Liberty Formula One Series C news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the sale, the insider owned 15,590 shares of the company’s stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series C 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 directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

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

Several large investors have recently bought and sold shares of FWONK. Zions Bancorporation National Association UT lifted its position in 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 purchasing an additional 188 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $32,000. Advisory Services Network LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth about $34,000. Headlands Technologies LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $38,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the 2nd quarter valued at about $39,000. Institutional investors own 92.26% of the company’s stock.

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.