Zacks Investment Research Lowers Liberty Media Formula One Series C (FWONK) to Sell

Liberty Media Formula One Series C (NASDAQ:FWONK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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.



FWONK traded down $1.33 on Monday, reaching $37.19. 1,164,200 shares of the company traded hands, compared to its average volume of 1,062,090. Liberty Media Formula One Series C has a 52-week low of $27.51 and a 52-week high of $39.60. The company has a market capitalization of $9.06 billion, a PE ratio of -57.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.33 and a current ratio of 0.33.

Liberty Media Formula One Series C (NASDAQ:FWONK) last announced its quarterly earnings data 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 8.21% and a negative return on equity of 0.69%. The company had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $216.27 million. On average, equities analysts forecast that Liberty Media Formula One Series C will post -0.56 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of FWONK. Norges Bank acquired a new stake in shares of Liberty Media Formula One Series C in the fourth quarter worth $103,778,000. OZ Management LP lifted its stake in shares of Liberty Media Formula One Series C by 31.6% in the first quarter. OZ Management LP now owns 4,868,887 shares of the company’s stock worth $170,654,000 after buying an additional 1,170,434 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Liberty Media Formula One Series C by 266.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,243,613 shares of the company’s stock worth $43,590,000 after buying an additional 904,132 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Liberty Media Formula One Series C by 20.2% in the fourth quarter. American Century Companies Inc. now owns 4,580,659 shares of the company’s stock worth $140,626,000 after buying an additional 768,981 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Liberty Media Formula One Series C by 48.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,257,600 shares of the company’s stock worth $69,308,000 after buying an additional 734,573 shares during the last quarter. Hedge funds and other institutional investors own 84.65% of the company’s stock.

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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