Citigroup Cuts Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Price Target to $95.00

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) had its target price reduced by Citigroup from $100.00 to $95.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. Sanford C. Bernstein upgraded Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Monday, December 29th. Finally, Zacks Research raised Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $105.40.

Liberty Media Corporation – Liberty Formula One Series A Price Performance

Shares of NASDAQ:FWONA opened at $75.11 on Wednesday. The company’s 50-day moving average price is $79.09 and its two-hundred day moving average price is $85.96. Liberty Media Corporation – Liberty Formula One Series A has a one year low of $68.00 and a one year high of $99.52. The stock has a market capitalization of $18.81 billion, a PE ratio of 34.14 and a beta of 0.50.

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

A number of institutional investors and hedge funds have recently modified their holdings of FWONA. Hsbc Holdings PLC lifted its stake in Liberty Media Corporation – Liberty Formula One Series A by 51.9% in the 4th quarter. Hsbc Holdings PLC now owns 9,992 shares of the company’s stock valued at $893,000 after purchasing an additional 3,413 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Liberty Media Corporation – Liberty Formula One Series A by 4.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,476 shares of the company’s stock worth $489,000 after buying an additional 244 shares during the last quarter. Cross Staff Investments Inc acquired a new position in Liberty Media Corporation – Liberty Formula One Series A during the fourth quarter worth approximately $109,000. Aristides Capital LLC raised its stake in Liberty Media Corporation – Liberty Formula One Series A by 4.1% in the fourth quarter. Aristides Capital LLC now owns 6,838 shares of the company’s stock valued at $611,000 after buying an additional 270 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in Liberty Media Corporation – Liberty Formula One Series A by 8.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,203 shares of the company’s stock valued at $644,000 after buying an additional 541 shares during the period. 8.38% of the stock is owned by institutional investors.

About Liberty Media Corporation – Liberty Formula One Series A

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.