Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Releases Earnings Results, Misses Expectations By $0.22 EPS

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) posted its quarterly earnings data on Thursday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22), FiscalAI reports. The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $954.37 million.

Liberty Media Corporation – Liberty Formula One Series A Stock Up 3.0%

Liberty Media Corporation – Liberty Formula One Series A stock traded up $2.70 during mid-day trading on Friday, hitting $93.96. The company’s stock had a trading volume of 147,268 shares, compared to its average volume of 163,553. The stock has a market capitalization of $23.54 billion, a P/E ratio of 138.18 and a beta of 0.49. Liberty Media Corporation – Liberty Formula One Series A has a twelve month low of $73.70 and a twelve month high of $99.52. The stock’s fifty day moving average price is $87.23 and its two-hundred day moving average price is $82.76.

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

In other news, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction 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 owned 15,590 shares of the company’s stock, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. KKM Financial LLC acquired a new stake in Liberty Media Corporation – Liberty Formula One Series A during the 4th quarter worth $18,547,000. Hawk Ridge Capital Management LP bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the third quarter worth about $14,953,000. Amundi increased its stake in Liberty Media Corporation – Liberty Formula One Series A by 420.4% during the 4th quarter. Amundi now owns 71,214 shares of the company’s stock worth $6,365,000 after purchasing an additional 57,529 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A during the second quarter worth $3,530,000. Finally, UBS Group AG increased its holdings in Liberty Media Corporation – Liberty Formula One Series A by 45.3% during the 3rd quarter. UBS Group AG now owns 117,073 shares of the company’s stock worth $11,148,000 after purchasing an additional 36,525 shares in the last quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FWONA. Weiss Ratings restated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday, June 24th. Citizens Jmp reiterated a “market outperform” rating and issued a $120.00 price objective (up from $100.00) on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Thursday, July 2nd. Zacks Research upgraded shares of 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, Citigroup reissued a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series A currently has an average rating of “Buy” and an average price target of $110.00.

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.