Liberty Media Formula One Series C (FWONK) Coverage Initiated by Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of Liberty Media Formula One Series C (NASDAQ:FWONK) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $39.00 target price on the stock.

Separately, ValuEngine raised Liberty Media Formula One Series C from a sell rating to a hold rating in a report on Saturday, June 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Liberty Media Formula One Series C currently has an average rating of Buy and an average target price of $43.33.

Liberty Media Formula One Series C stock opened at $32.92 on Tuesday. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 27.21 and a beta of 1.41. Liberty Media Formula One Series C has a 12 month low of $28.37 and a 12 month high of $41.14.

Liberty Media Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $585.00 million during the quarter, compared to analyst estimates of $602.28 million. Equities research analysts expect that Liberty Media Formula One Series C will post -0.25 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in Liberty Media Formula One Series C by 0.9% during the 1st quarter. BlackRock Inc. now owns 9,082,719 shares of the company’s stock worth $280,202,000 after acquiring an additional 76,911 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Liberty Media Formula One Series C by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 326,388 shares of the company’s stock worth $10,069,000 after acquiring an additional 7,152 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Liberty Media Formula One Series C by 45.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,560 shares of the company’s stock worth $387,000 after acquiring an additional 3,934 shares during the last quarter. Barclays PLC grew its position in Liberty Media Formula One Series C by 20.2% during the 1st quarter. Barclays PLC now owns 38,485 shares of the company’s stock worth $1,187,000 after acquiring an additional 6,480 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in Liberty Media Formula One Series C by 5.5% during the 1st quarter. Guggenheim Capital LLC now owns 161,329 shares of the company’s stock worth $4,977,000 after acquiring an additional 8,480 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Liberty Media Formula One Series C Company Profile

Formula One Group, through its subsidiaries, engages in the media and entertainment businesses in North America. Formula One Group was formerly known as The Liberty Media Group. The company is based in Englewood, Colorado. Formula One Group is a former subsidiary of Liberty Media Corporation.

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