Liberty Media Formula One Series C (NASDAQ:FWONK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Liberty Media Formula One Series C (NASDAQ:FWONK) from a sell rating to a hold rating in a research report released on Thursday morning, 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. “

Several other research analysts have also commented on the company. B. Riley set a $7.00 price objective on Unique Fabricating and gave the company a buy rating in a research report on Thursday, May 16th. TheStreet lowered Trinseo from a b- rating to a c+ rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $41.33.

Shares of FWONK opened at $38.37 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.44 and a current ratio of 0.44. The business has a fifty day moving average price of $37.44. Liberty Media Formula One Series C has a twelve month low of $27.51 and a twelve month high of $39.60.

Liberty Media Formula One Series C (NASDAQ:FWONK) last issued its earnings results on Thursday, May 9th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.13). The firm had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $216.27 million. Liberty Media Formula One Series C had a negative return on equity of 1.25% and a negative net margin of 14.34%. Equities research analysts expect that Liberty Media Formula One Series C will post -0.93 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of Liberty Media Formula One Series C by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 21,287 shares of the company’s stock worth $746,000 after acquiring an additional 327 shares during the last quarter. S&CO Inc. grew its stake in Liberty Media Formula One Series C by 0.3% in the first quarter. S&CO Inc. now owns 123,229 shares of the company’s stock worth $4,319,000 after purchasing an additional 330 shares in the last quarter. Twin Capital Management Inc. grew its stake in Liberty Media Formula One Series C by 0.4% in the first quarter. Twin Capital Management Inc. now owns 88,730 shares of the company’s stock worth $3,110,000 after purchasing an additional 330 shares in the last quarter. Hsbc Holdings PLC grew its stake in Liberty Media Formula One Series C by 2.2% in the fourth quarter. Hsbc Holdings PLC now owns 20,359 shares of the company’s stock worth $625,000 after purchasing an additional 429 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Liberty Media Formula One Series C by 2.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,169 shares of the company’s stock worth $847,000 after purchasing an additional 589 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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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