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


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 released on Saturday morning, Zacks.com reports. The firm currently has $48.00 price target 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. “

FWONK has been the subject of a number of other reports. ValuEngine downgraded Liberty Media Formula One Series C from a strong-buy rating to a buy rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Liberty Media Formula One Series C from a neutral rating to an overweight rating and boosted their price objective for the stock from $38.00 to $50.00 in a research report on Thursday, August 15th. Four research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average price target of $48.00.

Shares of NASDAQ:FWONK opened at $41.50 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $9.70 billion, a PE ratio of -63.85 and a beta of 0.95. The firm’s 50-day moving average is $41.43 and its two-hundred day moving average is $39.52. Liberty Media Formula One Series C has a 1 year low of $27.51 and a 1 year high of $43.05.

Liberty Media Formula One Series C (NASDAQ:FWONK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.25). Liberty Media Formula One Series C had a negative return on equity of 1.63% and a negative net margin of 18.41%. The business had revenue of $620.00 million for the quarter, compared to analysts’ expectations of $616.52 million. Analysts expect that Liberty Media Formula One Series C will post -1.14 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of Liberty Media Formula One Series C by 2.0% during the third quarter. Nisa Investment Advisors LLC now owns 15,300 shares of the company’s stock worth $636,000 after purchasing an additional 300 shares during the last quarter. Commerce Bank raised its stake in shares of Liberty Media Formula One Series C by 5.6% during the second quarter. Commerce Bank now owns 7,495 shares of the company’s stock worth $280,000 after purchasing an additional 395 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Liberty Media Formula One Series C by 3.8% during the second quarter. IFM Investors Pty Ltd now owns 12,458 shares of the company’s stock worth $466,000 after purchasing an additional 458 shares during the last quarter. Vantage Investment Partners LLC raised its stake in shares of Liberty Media Formula One Series C by 0.4% during the third quarter. Vantage Investment Partners LLC now owns 130,932 shares of the company’s stock worth $5,445,000 after purchasing an additional 532 shares during the last quarter. Finally, Shufro Rose & Co. LLC purchased a new stake in shares of Liberty Media Formula One Series C during the third quarter worth approximately $25,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

About Liberty Media Formula One Series C

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors’ championship and drivers compete for the drivers’ championship. The company is based in Englewood, Colorado.

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