Liberty Media Formula One Series C (FWONK) Receives $43.33 Average Target Price from Analysts

Shares of Liberty Media Formula One Series C (NASDAQ:FWONK) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $44.20.

A number of research firms have weighed in on FWONK. Zacks Investment Research lowered Liberty Media Formula One Series C from a “buy” rating to a “hold” rating in a report on Friday. Goldman Sachs Group began coverage on Liberty Media Formula One Series C in a report on Tuesday, October 9th. They set a “neutral” rating and a $39.00 target price for the company. Finally, ValuEngine lowered Liberty Media Formula One Series C from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th.

Institutional investors and hedge funds have recently modified their holdings of the company. Massey Quick Simon & CO. LLC purchased a new stake in shares of Liberty Media Formula One Series C during the 2nd quarter valued at $160,000. Bank of Montreal Can lifted its holdings in shares of Liberty Media Formula One Series C by 133.2% during the 3rd quarter. Bank of Montreal Can now owns 4,510 shares of the company’s stock valued at $168,000 after purchasing an additional 2,576 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Liberty Media Formula One Series C during the 3rd quarter valued at $178,000. FineMark National Bank & Trust purchased a new stake in shares of Liberty Media Formula One Series C during the 2nd quarter valued at $202,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Liberty Media Formula One Series C by 1,038.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,485 shares of the company’s stock valued at $204,000 after purchasing an additional 5,003 shares during the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.

Liberty Media Formula One Series C stock opened at $32.66 on Wednesday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 26.99 and a beta of 1.44. Liberty Media Formula One Series C has a twelve month low of $28.37 and a twelve month high of $39.62.

Liberty Media Formula One Series C (NASDAQ:FWONK) last posted its earnings results on Wednesday, August 8th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $602.28 million. As a group, equities analysts forecast that Liberty Media Formula One Series C will post -0.26 EPS for the current year.

About Liberty Media Formula One Series C

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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