Liberty Media Formula One Series A (FWONA) Raised to “Buy” at B. Riley

Liberty Media Formula One Series A (NASDAQ:FWONA) was upgraded by stock analysts at B. Riley from a “neutral” rating to a “buy” rating in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a $46.00 target price on the stock, up from their previous target price of $35.00. B. Riley’s price objective would suggest a potential upside of 25.61% from the company’s current price.

A number of other analysts have also weighed in on FWONA. ValuEngine upgraded Liberty Media Formula One Series A from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Zacks Investment Research upgraded Liberty Media Formula One Series A from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Pivotal Research reiterated a “buy” rating and set a $43.00 price objective on shares of Liberty Media Formula One Series A in a report on Friday, March 1st. Finally, Macquarie reiterated a “buy” rating and set a $43.00 price objective on shares of Liberty Media Formula One Series A in a report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.50.

NASDAQ:FWONA opened at $36.62 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $8.40 billion, a P/E ratio of -56.34 and a beta of 1.03. Liberty Media Formula One Series A has a 12 month low of $26.63 and a 12 month high of $38.43.

Liberty Media Formula One Series A (NASDAQ:FWONA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.09). Liberty Media Formula One Series A had a negative return on equity of 1.25% and a negative net margin of 14.34%. The company had revenue of $246.00 million for the quarter. On average, equities research analysts anticipate that Liberty Media Formula One Series A will post -0.55 EPS for the current year.

In other news, insider Richard N. Baer sold 19,988 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $41.51, for a total transaction of $829,701.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of institutional investors have recently modified their holdings of the stock. Loeb Partners Corp purchased a new position in Liberty Media Formula One Series A in the 4th quarter worth approximately $26,000. Oppenheimer Asset Management Inc. purchased a new position in Liberty Media Formula One Series A in the 4th quarter worth approximately $27,000. Royal London Asset Management Ltd. purchased a new position in Liberty Media Formula One Series A in the 1st quarter worth approximately $39,000. Metropolitan Life Insurance Co NY lifted its stake in Liberty Media Formula One Series A by 142.1% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 1,477 shares of the company’s stock worth $95,000 after purchasing an additional 867 shares in the last quarter. Finally, We Are One Seven LLC purchased a new position in Liberty Media Formula One Series A in the 4th quarter worth approximately $52,000. 10.31% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Formula One Series A 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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