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

Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) from a market perform rating to an outperform rating in a report published on Monday, Marketbeat reports. The brokerage currently has $111.00 target price on the stock, up from their prior target price of $110.00.

A number of other research analysts also recently commented on FWONK. Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their price objective on 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Monday, December 29th. Finally, Wells Fargo & Company increased their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.20.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $90.57 on Monday. The firm has a fifty day moving average of $96.18 and a two-hundred day moving average of $99.54. The firm has a market cap of $22.65 billion, a P/E ratio of 116.12 and a beta of 0.47. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $75.26 and a 1-year high of $109.36.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last issued its quarterly 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 firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. On average, sell-side analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.36 EPS for the current year.

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

In related news, insider Renee L. Wilm sold 11,200 shares of the 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 sale, the insider owned 21,037 shares of the company’s stock, valued at $1,933,089.93. This trade represents a 34.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chase Carey sold 83,536 shares of Liberty Media Corporation – Liberty Formula One Series C stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the completion of the sale, the director owned 94,356 shares in the company, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 368,363 shares of company stock worth $36,650,423 over the last ninety days.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Formula One Series C

Several institutional investors have recently bought and sold shares of FWONK. Oliver Lagore Vanvalin Investment Group bought a new position in Liberty Media Corporation – Liberty Formula One Series C in the 2nd quarter valued at about $29,000. Advisory Services Network LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the 3rd quarter worth approximately $34,000. Headlands Technologies LLC bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the second quarter valued at approximately $38,000. Osterweis Capital Management Inc. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the second quarter valued at approximately $39,000. Finally, Root Financial Partners LLC acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series C during the third quarter valued at approximately $41,000. 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.