Liberty Media Formula One Series C (FWONK) Upgraded to “Buy” by B. Riley

B. Riley upgraded shares of Liberty Media Formula One Series C (NASDAQ:FWONK) from a neutral rating to a buy rating in a report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $46.00 price objective on the stock, up from their prior price objective of $35.00.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Liberty Media Formula One Series C from a buy rating to a hold rating in a research report on Saturday, January 19th. ValuEngine cut Liberty Media Formula One Series C from a buy rating to a hold rating in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Liberty Media Formula One Series C currently has an average rating of Hold and a consensus target price of $41.50.

NASDAQ FWONK traded down $0.10 during trading on Thursday, hitting $38.14. 57,617 shares of the company’s stock traded hands, compared to its average volume of 639,034. The company has a market cap of $8.68 billion, a PE ratio of -58.74 and a beta of 1.07. Liberty Media Formula One Series C has a 12-month low of $27.51 and a 12-month high of $39.60. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 0.60.

Liberty Media Formula One Series C (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.13). The business had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $216.27 million. Liberty Media Formula One Series C had a negative net margin of 14.34% and a negative return on equity of 1.25%. As a group, equities research analysts anticipate that Liberty Media Formula One Series C will post -0.78 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc increased its position in shares of Liberty Media Formula One Series C by 1.6% in the third quarter. Vanguard Group Inc now owns 16,330,812 shares of the company’s stock worth $607,342,000 after purchasing an additional 251,264 shares during the last quarter. Viking Global Investors LP increased its position in shares of Liberty Media Formula One Series C by 7.2% in the first quarter. Viking Global Investors LP now owns 11,670,116 shares of the company’s stock worth $409,038,000 after purchasing an additional 782,859 shares during the last quarter. Caledonia Private Investments Pty Ltd increased its position in shares of Liberty Media Formula One Series C by 12.5% in the first quarter. Caledonia Private Investments Pty Ltd now owns 10,980,060 shares of the company’s stock worth $384,851,000 after purchasing an additional 1,217,638 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Liberty Media Formula One Series C by 1.0% in the first quarter. Janus Henderson Group PLC now owns 10,326,284 shares of the company’s stock worth $361,936,000 after purchasing an additional 100,477 shares during the last quarter. Finally, FMR LLC increased its position in shares of Liberty Media Formula One Series C by 0.4% in the first quarter. FMR LLC now owns 10,089,049 shares of the company’s stock worth $353,621,000 after purchasing an additional 44,357 shares during the last quarter. Institutional investors own 84.12% of the company’s stock.

About Liberty Media Formula One Series C

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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