Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Hits New 52-Week High – What’s Next?

Shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) hit a new 52-week high during trading on Thursday. The company traded as high as $108.35 and last traded at $105.6310, with a volume of 1,240,893 shares traded. The stock had previously closed at $98.93.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 11th. Susquehanna lowered their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating for the company in a research report on Friday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, July 29th. Finally, Zacks Research lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 7.1%

The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 155.28 and a beta of 0.46. The company has a 50 day moving average of $94.40 and a 200 day moving average of $92.01.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $952.78 million. Equities analysts forecast 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

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 58.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,215,272 shares of the company’s stock worth $202,919,000 after purchasing an additional 819,363 shares during the last quarter. Accuvest Global Advisors boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 46.3% in the 3rd quarter. Accuvest Global Advisors now owns 5,310 shares of the company’s stock valued at $491,000 after purchasing an additional 1,681 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Liberty Media Corporation – Liberty Formula One Series C by 1.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 78,880 shares of the company’s stock worth $7,289,000 after purchasing an additional 888 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series C by 87.1% in the third quarter. Parallel Advisors LLC now owns 713 shares of the company’s stock valued at $66,000 after buying an additional 332 shares during the period. Finally, Alps Advisors Inc. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 3rd quarter worth about $231,000. 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 tracking stock represents an economic interest in the company’s Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport’s international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.