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

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) has been assigned an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $110.00.

A number of analysts recently commented on the company. Citigroup increased their price target on 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. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, June 24th. Zacks Research raised Liberty Media Corporation – Liberty Formula One Series A from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $120.00 price target (up from $100.00) on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Thursday.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FWONA. Principal Financial Group Inc. increased its position in Liberty Media Corporation – Liberty Formula One Series A by 14.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,518,828 shares of the company’s stock valued at $118,593,000 after purchasing an additional 191,619 shares during the period. Norges Bank purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the 4th quarter worth approximately $90,433,000. Janus Henderson Group PLC increased its position in Liberty Media Corporation – Liberty Formula One Series A by 1.1% during the 1st 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 in the last quarter. Sculptor Capital LP increased its position in Liberty Media Corporation – Liberty Formula One Series A by 1.7% during the 2nd 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 in the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. raised its stake in Liberty Media Corporation – Liberty Formula One Series A by 1.0% during 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 institutional investors.

Liberty Media Corporation – Liberty Formula One Series A Trading Up 0.5%

NASDAQ FWONA opened at $90.89 on Friday. The firm has a market capitalization of $22.77 billion, a P/E ratio of 41.69 and a beta of 0.50. The business has a fifty day simple moving average of $82.88 and a 200 day simple moving average of $81.99. Liberty Media Corporation – Liberty Formula One Series A has a 12 month low of $73.70 and a 12 month high of $99.52.

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.