Liberty Media Corporation – Liberty Formula One Series C Sees Unusually Large Options Volume (NASDAQ:FWONK)

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was the recipient of some unusual options trading on Thursday. Stock investors acquired 7,951 put options on the company. This represents an increase of approximately 4,293% compared to the typical daily volume of 181 put options.

Liberty Media Corporation – Liberty Formula One Series C Trading Down 0.3%

NASDAQ:FWONK traded down $0.29 on Thursday, reaching $90.15. The stock had a trading volume of 288,076 shares, compared to its average volume of 2,081,331. The company has a 50-day moving average of $87.52 and a 200 day moving average of $90.76. The stock has a market cap of $20.20 billion, a P/E ratio of 41.33 and a beta of 0.44. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $683.42 million. On average, equities analysts predict that Liberty Media Corporation – Liberty Formula One Series C will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

FWONK has been the subject of several research analyst reports. Weiss Ratings upgraded Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. UBS Group decreased their target price on Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a research report on Sunday. Wells Fargo & Company raised their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $122.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

A number of institutional investors have recently made changes to their positions in FWONK. Zions Bancorporation National Association UT raised its holdings in Liberty Media Corporation – Liberty Formula One Series C by 172.5% in the fourth quarter. Zions Bancorporation National Association UT now owns 297 shares of the company’s stock valued at $29,000 after acquiring an additional 188 shares in the last quarter. Advisory Services Network LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth $34,000. Headlands Technologies LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter worth about $38,000. Osterweis Capital Management Inc. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $39,000. Finally, Root Financial Partners LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter worth about $41,000. 92.26% of the stock is owned by institutional investors and hedge funds.

About Liberty Media Corporation – Liberty Formula One Series C

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.