Zacks Investment Research downgraded shares of Liberty Media Formula One Series C (NASDAQ:FWONK) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

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. “

Separately, ValuEngine cut shares of Liberty Media Formula One Series C from a buy rating to a hold rating in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Liberty Media Formula One Series C presently has an average rating of Hold and an average price target of $41.50.

Shares of FWONK stock opened at $37.49 on Monday. Liberty Media Formula One Series C has a 12 month low of $27.51 and a 12 month high of $39.60. The company has a market cap of $8.59 billion, a price-to-earnings ratio of -57.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.44 and a quick ratio of 0.33.

Liberty Media Formula One Series C (NASDAQ:FWONK) last announced its earnings results on Thursday, May 9th. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.13). Liberty Media Formula One Series C had a negative net margin of 14.34% and a negative return on equity of 1.25%. The business had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $216.27 million. As a group, research analysts predict that Liberty Media Formula One Series C will post -0.78 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in Liberty Media Formula One Series C during the first quarter valued at $28,000. Loeb Partners Corp purchased a new position in Liberty Media Formula One Series C during the fourth quarter valued at $55,000. Twin Tree Management LP purchased a new position in Liberty Media Formula One Series C during the first quarter valued at $79,000. Osborn Williams & Donohoe LLC purchased a new position in Liberty Media Formula One Series C during the first quarter valued at $93,000. Finally, Carnick & Kubik Group LLC purchased a new position in Liberty Media Formula One Series C during the first quarter valued at $214,000. 84.12% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Formula One Series C Company Profile

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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