Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) posted its quarterly earnings data on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09, FiscalAI reports. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $683.42 million.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of NASDAQ:FWONK traded up $4.82 during mid-day trading on Thursday, hitting $93.48. The stock had a trading volume of 2,565,909 shares, compared to its average volume of 1,930,295. The company has a market cap of $20.95 billion, a PE ratio of 42.49, a P/E/G ratio of 16.07 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36. The company’s 50 day moving average is $86.78 and its 200-day moving average is $91.09.

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

Several hedge funds have recently made changes to their positions in FWONK. Invesco Ltd. lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 51.0% in the 2nd quarter. Invesco Ltd. now owns 504,313 shares of the company’s stock valued at $52,701,000 after acquiring an additional 170,435 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at approximately $502,000. Daiwa Securities Group Inc. lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 20.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company’s stock valued at $3,902,000 after acquiring an additional 6,285 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at approximately $1,863,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at approximately $1,255,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on FWONK. Wells Fargo & Company decreased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. UBS Group decreased 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 report on Wednesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wall Street Zen cut shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Finally, Weiss Ratings upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.78.

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.