UBS Group Issues Pessimistic Forecast for Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Price

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price reduced by research analysts at UBS Group from $107.00 to $104.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 15.63% from the company’s previous close.

FWONK has been the subject of several other reports. Sanford C. Bernstein raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $111.00 in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a report on Friday, March 27th. Wall Street Zen lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Wells Fargo & Company decreased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. decreased 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 for the company in a report on Thursday, March 19th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.78.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Shares of FWONK stock opened at $89.94 on Wednesday. The firm has a market cap of $20.16 billion, a P/E ratio of 40.88, a P/E/G ratio of 15.97 and a beta of 0.53. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $79.96 and a 1-year high of $109.36. The firm has a fifty day moving average of $86.41 and a two-hundred day moving average of $92.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 556.5% during the 1st quarter. SG Americas Securities LLC now owns 318,594 shares of the company’s stock valued at $27,087,000 after purchasing an additional 270,068 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 24.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 8,715 shares of the company’s stock valued at $859,000 after purchasing an additional 1,700 shares during the period. Corient Private Wealth LLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 15.4% during the 4th quarter. Corient Private Wealth LLC now owns 27,605 shares of the company’s stock valued at $2,719,000 after purchasing an additional 3,694 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Liberty Media Corporation – Liberty Formula One Series C by 3.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,719 shares of the company’s stock valued at $1,647,000 after purchasing an additional 584 shares during the period. Finally, Naya Capital Management UK Ltd. acquired a new position in Liberty Media Corporation – Liberty Formula One Series C during the 4th quarter valued at about $208,238,000. 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.