Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Stock Rating Upgraded by Wells Fargo & Company

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a note issued to investors on Friday, MarketBeat reports. The firm presently has a $95.00 price target on the stock, up from their prior price target of $93.00. Wells Fargo & Company‘s price target points to a potential upside of 3.72% from the company’s current price.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Sanford C. Bernstein raised 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 stock from $110.00 to $111.00 in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.56.

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

Shares of NASDAQ FWONK opened at $91.59 on Friday. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $75.26 and a fifty-two week high of $109.36. The business has a 50 day moving average price of $90.41 and a two-hundred day moving average price of $96.28. The firm has a market cap of $22.90 billion, a PE ratio of 41.63 and a beta of 0.48.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Formula One Series C news, Director Chase Carey sold 83,536 shares of the business’s stock in a transaction on 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 $9,147,814.20. The trade was a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its stake in Liberty Media Corporation – Liberty Formula One Series C by 15.4% in the fourth quarter. Corient Private Wealth LLC now owns 27,605 shares of the company’s stock valued at $2,719,000 after buying an additional 3,694 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Liberty Media Corporation – Liberty Formula One Series C by 3.6% in 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 last quarter. 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. Vident Advisory LLC grew its position in Liberty Media Corporation – Liberty Formula One Series C by 3.0% in the 4th quarter. Vident Advisory LLC now owns 5,455 shares of the company’s stock worth $537,000 after purchasing an additional 161 shares during the last quarter. Finally, KKM Financial LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series C in the fourth quarter valued at approximately $6,156,000. 92.26% of the stock is currently owned by institutional investors.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

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.