Liberty Media Formula One Series C (FWONK) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of Liberty Media Formula One Series C (NASDAQ:FWONK) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $39.00 target price on the stock.

According to Zacks, “Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses through their operating subsidiaries and investments in various publicly-traded companies. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, as well as infotainment services on a subscription fee basis through its satellite radio systems; provides next-generation connected vehicle applications and services; streams music and non-music channels over the Internet; sells satellite and Internet radios to consumers through Website and retailers; and offers other ancillary services, such as weather, traffic, data, and Backseat television services. Liberty Media Corporation is headquartered in Englewood, Colorado. “

A number of other research analysts also recently commented on the stock. ValuEngine raised shares of Liberty Media Formula One Series C from a sell rating to a hold rating in a research note on Saturday, June 16th. Goldman Sachs Group began coverage on shares of Liberty Media Formula One Series C in a research note on Tuesday, October 9th. They set a neutral rating and a $39.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $43.33.

Shares of FWONK stock opened at $32.92 on Wednesday. Liberty Media Formula One Series C has a twelve month low of $28.37 and a twelve month high of $41.14. The stock has a market capitalization of $8.59 billion, a P/E ratio of 27.21 and a beta of 1.41.

Liberty Media Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Wednesday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $585.00 million during the quarter, compared to analyst estimates of $602.28 million. Equities analysts expect that Liberty Media Formula One Series C will post -0.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of FWONK. BlackRock Inc. increased its position in Liberty Media Formula One Series C by 0.9% during the 1st quarter. BlackRock Inc. now owns 9,082,719 shares of the company’s stock worth $280,202,000 after purchasing an additional 76,911 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Liberty Media Formula One Series C by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 326,388 shares of the company’s stock worth $10,069,000 after acquiring an additional 7,152 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Liberty Media Formula One Series C by 45.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,560 shares of the company’s stock worth $387,000 after acquiring an additional 3,934 shares during the period. Barclays PLC boosted its holdings in Liberty Media Formula One Series C by 20.2% in the 1st quarter. Barclays PLC now owns 38,485 shares of the company’s stock worth $1,187,000 after acquiring an additional 6,480 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in Liberty Media Formula One Series C by 5.5% in the 1st quarter. Guggenheim Capital LLC now owns 161,329 shares of the company’s stock worth $4,977,000 after acquiring an additional 8,480 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Formula One Series C Company Profile

Formula One Group, through its subsidiaries, engages in the media and entertainment businesses in North America. Formula One Group was formerly known as The Liberty Media Group. The company is based in Englewood, Colorado. Formula One Group is a former subsidiary of Liberty Media Corporation.

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