Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Receives $103.00 Consensus Price Target from Brokerages

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $103.00.

A number of analysts have issued reports on FWONA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Monday, December 29th. Benchmark reissued a “buy” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Friday, November 21st. Finally, Zacks Research cut Liberty Media Corporation – Liberty Formula One Series A from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th.

Liberty Media Corporation – Liberty Formula One Series A Trading Down 1.9%

NASDAQ:FWONA opened at $83.24 on Friday. The stock has a 50-day moving average price of $88.12 and a 200 day moving average price of $90.55. The stock has a market capitalization of $20.81 billion, a P/E ratio of 106.72 and a beta of 0.54. Liberty Media Corporation – Liberty Formula One Series A has a 12-month low of $68.00 and a 12-month high of $99.52.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series A

In other news, insider Renee L. Wilm sold 11,200 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $91.89, for a total value of $1,029,168.00. Following the sale, the insider directly owned 21,037 shares in the company, valued at $1,933,089.93. The trade was a 34.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Chase Carey sold 83,536 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the sale, the director owned 94,356 shares in the company, valued at $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 368,363 shares of company stock worth $36,650,423 in the last 90 days. 2.97% of the stock is currently owned by company insiders.

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

Several hedge funds and other institutional investors have recently modified their holdings of FWONA. Norges Bank purchased a new position in Liberty Media Corporation – Liberty Formula One Series A during the 2nd quarter valued at $96,078,000. Hawk Ridge Capital Management LP bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A during the third quarter worth $14,953,000. Principal Financial Group Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 11.6% during the third quarter. Principal Financial Group Inc. now owns 989,602 shares of the company’s stock valued at $94,234,000 after purchasing an additional 102,586 shares during the period. Highbridge Capital Management LLC grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 27.8% in the second quarter. Highbridge Capital Management LLC now owns 365,000 shares of the company’s stock worth $34,660,000 after purchasing an additional 79,413 shares during the last quarter. Finally, Cooper Investors PTY Ltd. grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 117.4% in the third quarter. Cooper Investors PTY Ltd. now owns 112,982 shares of the company’s stock worth $10,758,000 after purchasing an additional 61,011 shares during the last quarter. 8.38% of the stock is currently owned by hedge funds and other 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.