Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Trading 5.7% Higher After Analyst Upgrade

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK)’s stock price was up 5.7% on Friday after Wells Fargo & Company upgraded the stock from an underweight rating to an equal weight rating. Wells Fargo & Company now has a $95.00 price target on the stock, up from their previous price target of $93.00. Liberty Media Corporation – Liberty Formula One Series C traded as high as $91.57 and last traded at $91.45. Approximately 600,557 shares traded hands during trading, a decline of 69% from the average daily volume of 1,968,208 shares. The stock had previously closed at $86.54.

A number of other equities analysts also recently weighed in on FWONK. JPMorgan Chase & Co. boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research report on Monday, December 29th. Finally, Sanford C. Bernstein upgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $110.00 to $111.00 in a research note on Monday, January 12th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.56.

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

In related news, Director Chase Carey sold 83,536 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.31% of the company’s stock.

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

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 21,133,295 shares of the company’s stock worth $2,081,841,000 after purchasing an additional 715,525 shares during the last quarter. Principal Financial Group Inc. grew its stake in Liberty Media Corporation – Liberty Formula One Series C by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,695,840 shares of the company’s stock worth $1,250,671,000 after buying an additional 129,822 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.1% in the 3rd quarter. Schroder Investment Management Group now owns 8,843,048 shares of the company’s stock worth $923,656,000 after buying an additional 186,077 shares during the last quarter. Silver Point Capital L.P. bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series C in the 4th quarter worth $302,000. Finally, Jericho Capital Asset Management L.P. raised its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 17.8% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,542,396 shares of the company’s stock valued at $447,471,000 after buying an additional 688,000 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series C Trading Up 5.8%

The company has a market capitalization of $22.90 billion, a P/E ratio of 41.63 and a beta of 0.48. The business’s fifty day moving average price is $90.41 and its 200-day moving average price is $96.28.

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.