Principal Financial Group Inc. Purchases 191,619 Shares of Liberty Media Corporation – Liberty Formula One Series A $FWONA

Principal Financial Group Inc. raised its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,518,828 shares of the company’s stock after purchasing an additional 191,619 shares during the period. Principal Financial Group Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series A were worth $118,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fifth Third Bancorp raised its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 73,166.7% in the first quarter. Fifth Third Bancorp now owns 2,198 shares of the company’s stock worth $172,000 after purchasing an additional 2,195 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Liberty Media Corporation – Liberty Formula One Series A by 43.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,824 shares of the company’s stock worth $533,000 after buying an additional 2,059 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in Liberty Media Corporation – Liberty Formula One Series A by 6.6% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,706 shares of the company’s stock worth $524,000 after buying an additional 414 shares in the last quarter. QRG Capital Management Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series A by 3.9% in the 1st quarter. QRG Capital Management Inc. now owns 3,441 shares of the company’s stock worth $269,000 after buying an additional 128 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Liberty Media Corporation – Liberty Formula One Series A by 1.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,507 shares of the company’s stock worth $1,757,000 after buying an additional 213 shares during the last quarter. Institutional investors own 8.38% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series A Stock Performance

Liberty Media Corporation – Liberty Formula One Series A stock opened at $91.51 on Thursday. Liberty Media Corporation – Liberty Formula One Series A has a one year low of $73.70 and a one year high of $99.52. The stock has a fifty day moving average of $84.71 and a 200 day moving average of $82.16. The stock has a market cap of $22.92 billion, a PE ratio of 41.98 and a beta of 0.50.

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

In other news, 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 transaction, the director owned 94,356 shares in the company, valued at $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 is available at this link. Also, insider Renee L. Wilm sold 11,597 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set 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, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday, June 24th. 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 report on Tuesday, May 12th. Finally, Citigroup raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series A from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $110.00.

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.