Zacks Research upgraded shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks reports.
Other equities analysts have also issued research reports about the company. Guggenheim upped their price target on Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Wells Fargo & Company lowered their price target on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Tuesday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Bank of America boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, UBS Group upped their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.29.
Check Out Our Latest Stock Analysis on FWONK
Liberty Media Corporation – Liberty Formula One Series C Stock Performance
Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. Equities research analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 2.00 EPS for the current fiscal year.
Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in Liberty Media Corporation – Liberty Formula One Series C by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,883,212 shares of the company’s stock valued at $925,299,000 after buying an additional 302,191 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 13.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,311,086 shares of the company’s stock worth $505,297,000 after acquiring an additional 645,996 shares during the period. Bank of America Corp DE increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 43.2% during the first quarter. Bank of America Corp DE now owns 4,561,809 shares of the company’s stock worth $387,845,000 after acquiring an additional 1,376,984 shares during the period. Jericho Capital Asset Management L.P. increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 17.8% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company’s stock worth $447,471,000 after acquiring an additional 688,000 shares during the period. Finally, Berkshire Hathaway Inc acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at $297,358,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.
About Liberty Media Corporation – Liberty Formula One Series C
Liberty Media Corporation’s Liberty Formula One Series C represents a non-voting tracking stock associated with the company’s Formula One Group. The group’s principal business is the ownership and operation of Formula 1, the international motorsport championship, through its control of the championship’s commercial rights.
Formula 1 generates revenue through broadcast and digital media rights, race-promotion agreements, sponsorships, hospitality, licensing and other commercial partnerships.
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