Liberty Media Formula One Series C (NASDAQ:FWONK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

Other research analysts also recently issued research reports about the stock. Goldman Sachs Group assumed coverage on shares of Liberty Media Formula One Series C in a report on Tuesday, October 9th. They set a “neutral” rating and a $39.00 price objective on the stock. ValuEngine downgraded shares of Liberty Media Formula One Series C from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.33.

Shares of FWONK opened at $32.66 on Friday. The firm has a market capitalization of $7.87 billion, a P/E ratio of 26.99 and a beta of 1.44. Liberty Media Formula One Series C has a one year low of $28.37 and a one year high of $39.62.

Liberty Media Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Wednesday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $585.00 million during the quarter, compared to the consensus estimate of $602.28 million. On average, analysts expect that Liberty Media Formula One Series C will post -0.26 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of FWONK. Northern Trust Corp boosted its position in shares of Liberty Media Formula One Series C by 3.4% during the 2nd quarter. Northern Trust Corp now owns 1,075,914 shares of the company’s stock valued at $39,949,000 after acquiring an additional 35,567 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Liberty Media Formula One Series C by 8.8% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,379,084 shares of the company’s stock valued at $51,288,000 after acquiring an additional 111,021 shares in the last quarter. Locust Wood Capital Advisers LLC boosted its position in shares of Liberty Media Formula One Series C by 5.5% during the 2nd quarter. Locust Wood Capital Advisers LLC now owns 988,365 shares of the company’s stock valued at $36,698,000 after acquiring an additional 51,935 shares in the last quarter. Andra AP fonden boosted its position in shares of Liberty Media Formula One Series C by 75.8% during the 3rd quarter. Andra AP fonden now owns 80,700 shares of the company’s stock valued at $3,001,000 after acquiring an additional 34,800 shares in the last quarter. Finally, Vantage Investment Partners LLC boosted its position in shares of Liberty Media Formula One Series C by 1.8% during the 3rd quarter. Vantage Investment Partners LLC now owns 385,100 shares of the company’s stock valued at $14,321,000 after acquiring an additional 6,800 shares in the last quarter. Institutional investors own 89.36% of the company’s stock.

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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