Bank of New York Mellon Corp Invests $56.07 Million in Liberty Media Corporation – Liberty Formula One Series A $FWONA

Bank of New York Mellon Corp acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) during the 2nd quarter, Holdings Channel reports. The fund acquired 589,300 shares of the company’s stock, valued at approximately $56,066,000.

A number of other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 9.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 159,804 shares of the company’s stock worth $12,475,000 after purchasing an additional 13,908 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 34.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,327,209 shares of the company’s stock valued at $118,630,000 after purchasing an additional 337,607 shares during the last quarter. Deltroit Asset Management UK LLP purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series A during the fourth quarter valued at about $4,609,000. Gabelli Funds LLC grew its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 13.8% during the first quarter. Gabelli Funds LLC now owns 147,700 shares of the company’s stock valued at $11,532,000 after purchasing an additional 17,950 shares in the last quarter. Finally, S&CO Inc. bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the second quarter worth about $5,624,000. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FWONA. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday, June 24th. Guggenheim lifted their price objective on Liberty Media Corporation – Liberty Formula One Series A from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Citigroup reiterated a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday, July 22nd. Zacks Research raised shares of 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 restated 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 research report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Liberty Media Corporation – Liberty Formula One Series A presently has an average rating of “Buy” and a consensus target price of $114.67.

Insider Activity

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation – Liberty Formula One Series A stock in a transaction dated 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 completion of the transaction, the insider directly owned 15,590 shares of the company’s stock, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.63% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series A Price Performance

NASDAQ:FWONA opened at $95.36 on Thursday. The firm has a market capitalization of $23.89 billion, a price-to-earnings ratio of 140.24 and a beta of 0.49. Liberty Media Corporation – Liberty Formula One Series A has a 1 year low of $73.70 and a 1 year high of $99.52. The business has a 50 day simple moving average of $90.68 and a 200-day simple moving average of $84.10.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22). The firm had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $954.37 million.

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.