Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Given New $124.00 Price Target at JPMorgan Chase & Co.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) had its target price upped by JPMorgan Chase & Co. from $111.00 to $124.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

FWONK has been the subject of several other reports. Weiss Ratings raised Liberty Media Corporation – Liberty Formula One Series C from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Bank of America lifted their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Wall Street Zen upgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Wells Fargo & Company raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, UBS Group reduced their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Three 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, the company presently has an average rating of “Hold” and an average price target of $110.20.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

NASDAQ FWONK opened at $97.92 on Tuesday. The stock’s 50 day simple moving average is $92.60 and its 200 day simple moving average is $89.59. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $109.36. The firm has a market cap of $21.94 billion, a PE ratio of 44.92 and a beta of 0.44.

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The company had revenue of $711.00 million during the quarter, compared to analyst estimates of $683.42 million. As a group, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series C will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series C

A number of large investors have recently modified their holdings of the company. Principal Securities Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 2.6% in the 4th quarter. Principal Securities Inc. now owns 4,726 shares of the company’s stock worth $466,000 after purchasing an additional 118 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 26.6% during the 4th quarter. Farther Finance Advisors LLC now owns 571 shares of the company’s stock valued at $56,000 after purchasing an additional 120 shares in the last quarter. Blair William & Co. IL grew its position in shares of Liberty Media Corporation – Liberty Formula One Series C by 2.7% during the 4th quarter. Blair William & Co. IL now owns 5,175 shares of the company’s stock valued at $510,000 after purchasing an additional 135 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 1.4% in the fourth quarter. Clearstead Advisors LLC now owns 10,312 shares of the company’s stock worth $1,016,000 after purchasing an additional 141 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series C by 0.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,832 shares of the company’s stock worth $3,234,000 after purchasing an additional 149 shares during the period. 92.26% of the stock is currently owned by institutional investors.

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.