Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Receives Average Rating of “Buy” from Analysts

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $103.3333.

A number of brokerages recently weighed in on FWONA. Citigroup boosted their price target on shares of Liberty Media Corporation – Liberty Formula One Series A from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Citizens Jmp began coverage on Liberty Media Corporation – Liberty Formula One Series A in a research report on Monday, March 30th. They set a “market outperform” rating and a $100.00 price target on the stock. Zacks Research upgraded Liberty Media Corporation – Liberty Formula One Series A from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday.

Insider Activity at Liberty Media Corporation – Liberty Formula One Series A

In other news, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the sale, the insider directly owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Formula One Series A

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 14.4% in the first quarter. Principal Financial Group Inc. now owns 1,518,828 shares of the company’s stock valued at $118,593,000 after buying an additional 191,619 shares during the last quarter. Norges Bank purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the fourth quarter valued at about $90,433,000. Janus Henderson Group PLC raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 1.1% in the first quarter. Janus Henderson Group PLC now owns 1,006,144 shares of the company’s stock valued at $78,560,000 after buying an additional 10,603 shares during the last quarter. Sculptor Capital LP raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 1.7% in the second quarter. Sculptor Capital LP now owns 750,000 shares of the company’s stock valued at $71,220,000 after buying an additional 12,786 shares during the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 1.0% in the second quarter. Ruane Cunniff & Goldfarb L.P. now owns 748,343 shares of the company’s stock valued at $71,063,000 after buying an additional 7,113 shares during the last quarter. 8.38% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation – Liberty Formula One Series A Price Performance

Shares of FWONA opened at $84.88 on Friday. Liberty Media Corporation – Liberty Formula One Series A has a 1-year low of $73.70 and a 1-year high of $99.52. The stock has a market cap of $21.26 billion, a PE ratio of 38.94 and a beta of 0.52. The firm has a fifty day moving average price of $82.37 and a 200 day moving average price of $81.92.

Liberty Media Corporation – Liberty Formula One Series A Company Profile

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ: FWONA) is a tracking stock that represents Liberty Media’s economic interest in its Liberty Formula One Group business. The tracking stock is designed to give investors direct exposure to the performance of Formula One-related activities within the broader Liberty Media structure while Liberty Media remains the corporate parent. FWONA is a class A equity security tied specifically to the Formula One operations rather than to Liberty Media’s other media and entertainment holdings.

The Liberty Formula One Group owns and manages the commercial rights to the FIA Formula One World Championship and derives revenue from global media and broadcasting rights, sponsorship and advertising, race promotion and hospitality, licensing and merchandising, and digital content and distribution.