Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Lowered by Zacks Research

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on FWONK. JPMorgan Chase & Co. raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. UBS Group raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $98.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $120.00 price objective on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Tuesday, July 22nd. Guggenheim raised their target price on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Finally, Susquehanna lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $121.00 and gave the stock a “positive” rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.22.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 2.6%

NASDAQ FWONK opened at $98.87 on Tuesday. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 96.93 and a beta of 0.46. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $74.34 and a twelve month high of $106.26. The business’s fifty day moving average is $101.04 and its 200 day moving average is $95.11.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.71. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. On average, research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 earnings per share for the current fiscal year.

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

In related news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $102.44, for a total value of $397,979.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,651 shares of company stock valued at $572,250 in the last quarter. 4.31% of the stock is owned by insiders.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

Large investors have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at $29,000. GW&K Investment Management LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series C in the first quarter worth $25,000. Headlands Technologies LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $38,000. Osterweis Capital Management Inc. bought a new stake in Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at about $46,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

About Liberty Media Corporation – Liberty Formula One Series C

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.