Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Price Target Raised to $134.00

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its price target increased by analysts at Guggenheim from $125.00 to $134.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 29.96% from the stock’s current price.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. UBS Group upped their price objective on Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Bank of America lifted their target price on Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their target price on Liberty Media Corporation – Liberty Formula One Series C from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Liberty Media Corporation – Liberty Formula One Series C Stock Down 0.8%

Shares of FWONK stock opened at $103.11 on Monday. Liberty Media Corporation – Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36. The firm has a fifty day moving average of $96.29 and a 200-day moving average of $90.64. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 151.82 and a beta of 0.43.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $952.78 million. On average, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.94 EPS for the current year.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series C

In related news, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series C

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Liberty Media Corporation – Liberty Formula One Series C by 265.1% during the fourth quarter. Franklin Resources Inc. now owns 1,159,292 shares of the company’s stock worth $114,192,000 after acquiring an additional 841,729 shares during the period. Berkshire Hathaway Inc acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter worth approximately $297,358,000. Braun Stacey Associates Inc. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 5.3% during the first quarter. Braun Stacey Associates Inc. now owns 276,480 shares of the company’s stock worth $23,506,000 after purchasing an additional 14,039 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 8.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,558 shares of the company’s stock worth $21,231,000 after purchasing an additional 17,102 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 21.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 97,236 shares of the company’s stock valued at $8,248,000 after buying an additional 17,405 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

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.