Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Raised to Outperform at Sanford C. Bernstein

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $111.00 price objective on the stock, up from their previous price objective of $110.00. Sanford C. Bernstein’s price objective would suggest a potential upside of 22.95% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Wells Fargo & Company lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $86.00 to $94.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Finally, Wall Street Zen cut Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 1.2%

Shares of FWONK stock opened at $90.28 on Monday. Liberty Media Corporation – Liberty Formula One Series C has a twelve month low of $75.26 and a twelve month high of $109.36. The stock’s fifty day simple moving average is $96.36 and its 200 day simple moving average is $99.64. The firm has a market capitalization of $22.57 billion, a P/E ratio of 115.75 and a beta of 0.47.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its earnings results on Wednesday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.18). The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. As a group, equities research analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series C

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 109,121 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $102.54, for a total value of $11,189,267.34. Following the completion of the sale, the director directly owned 93,102 shares in the company, valued at approximately $9,546,679.08. This trade represents a 53.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,200 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $91.89, for a total value of $1,029,168.00. Following the completion of the sale, the insider owned 21,037 shares of the company’s stock, valued at approximately $1,933,089.93. This represents a 34.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 368,363 shares of company stock worth $36,650,423. 4.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 4,851.6% in the 4th quarter. SG Americas Securities LLC now owns 48,526 shares of the company’s stock worth $4,780,000 after purchasing an additional 47,546 shares in the last quarter. Diversified Trust Co. purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter valued at approximately $2,469,000. Impact Capital Partners LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series C during the fourth quarter worth $201,000. GAMMA Investing LLC boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 14.9% in the fourth quarter. GAMMA Investing LLC now owns 2,903 shares of the company’s stock worth $286,000 after purchasing an additional 376 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,780 shares of the company’s stock valued at $37,375,000 after purchasing an additional 89,673 shares during the period. 92.26% of the stock is owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.