Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Issues Earnings Results

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 business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $954.37 million.

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

NASDAQ FWONA traded up $2.70 during midday trading on Friday, hitting $93.96. The company had a trading volume of 147,268 shares, compared to its average volume of 163,553. The firm has a 50-day moving average price of $87.23 and a 200-day moving average price of $82.76. The company has a market capitalization of $23.53 billion, a PE 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.

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

In related news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the sale, the director owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction dated 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series A

Hedge funds and other institutional investors have recently made changes to their positions in the company. KKM Financial LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series A during the fourth quarter valued at approximately $18,547,000. Hawk Ridge Capital Management LP bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series A in the 3rd quarter valued at $14,953,000. Amundi increased its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 420.4% in the 4th quarter. Amundi now owns 71,214 shares of the company’s stock valued at $6,365,000 after purchasing an additional 57,529 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Liberty Media Corporation – Liberty Formula One Series A during the 2nd quarter worth $3,530,000. Finally, UBS Group AG raised its holdings in shares of 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 buying an additional 36,525 shares in the last quarter. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FWONA shares. Citizens Jmp reissued a “market outperform” rating and issued a $120.00 target price (up from $100.00) on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, June 24th. Citigroup reissued a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday, July 22nd. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series A presently has an average rating of “Buy” and a consensus target price 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.