Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Sets New 1-Year High on Analyst Upgrade

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) hit a new 52-week high on Wednesday after TD Cowen raised their price target on the stock from $118.00 to $125.00. TD Cowen currently has a buy rating on the stock. Liberty Media Corporation – Liberty Formula One Series C traded as high as $109.92 and last traded at $108.8180, with a volume of 1,368 shares trading hands. The stock had previously closed at $108.94.

Other equities research analysts have also recently issued reports about the stock. 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. Jefferies Financial Group started coverage on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, September 9th. They set a “buy” rating and a $115.00 price target on the stock. Wells Fargo & Company raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $96.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, November 6th. Susquehanna decreased 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 research report on Friday, October 16th. Finally, Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research note on Saturday. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.44.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the 1st quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after purchasing an additional 1,376,984 shares during the period. Junto Capital Management LP grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 178.1% in the second quarter. Junto Capital Management LP now owns 1,707,281 shares of the company’s stock worth $162,431,000 after purchasing an additional 1,093,372 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,665,090 shares of the company’s stock worth $396,626,000 after acquiring an additional 981,047 shares during the period. Engineers Gate Manager LP increased its position in Liberty Media Corporation – Liberty Formula One Series C by 893.8% in the 2nd quarter. Engineers Gate Manager LP now owns 1,049,351 shares of the company’s stock valued at $99,835,000 after acquiring an additional 943,757 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 58.7% during 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 purchasing an additional 819,363 shares in the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

The stock has a 50 day moving average of $94.85 and a two-hundred day moving average of $92.38. The stock has a market cap of $24.44 billion, a PE ratio of 125.36 and a beta of 0.46.

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.