Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Stock Gets Price Target Boost from TD Cowen

Key Points

• TD Cowen raised its price target for Liberty Formula One Series A from $107 to $113 and maintained a Buy rating, implying about 10.1% upside from the share price at the time.
• Analyst sentiment is broadly positive: the stock has a consensus Buy rating and an average target of $114.25; Guggenheim also raised its target to $124.
• The company’s latest quarter came in below expectations, reporting EPS of $0.43 versus $0.56 consensus and revenue of $1.23 billion versus $1.24 billion expected.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) had its price target lifted by research analysts at TD Cowen from $107.00 to $113.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective points to a potential upside of 10.14% from the company's current price.

Other analysts have also issued research reports about the company. Citigroup reissued a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Wednesday, July 22nd. 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 report on Friday, August 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Monday, September 21st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $114.25.

Liberty Media Corporation - Liberty Formula One Series A Stock Performance

Shares of NASDAQ FWONA traded down $0.23 during mid-day trading on Tuesday, hitting $102.60. The stock had a trading volume of 72,500 shares, compared to its average volume of 173,456. The business has a 50 day moving average price of $87.08 and a two-hundred day moving average price of $84.75. Liberty Media Corporation - Liberty Formula One Series A has a 1 year low of $73.70 and a 1 year high of $103.55. The firm has a market cap of $25.70 billion, a P/E ratio of 118.47 and a beta of 0.52.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in Liberty Media Corporation - Liberty Formula One Series A by 9.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 159,804 shares of the company's stock valued at $12,475,000 after purchasing an additional 13,908 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series A during the second quarter valued at approximately $4,033,000. S&CO Inc. purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series A during the second quarter valued at approximately $5,624,000. Gabelli Funds LLC grew its stake 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 buying an additional 17,950 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 4,106.5% during the 2nd quarter. Engineers Gate Manager LP now owns 174,442 shares of the company's stock worth $15,271,000 after acquiring an additional 170,295 shares during the last quarter. Institutional investors own 8.38% of the company's stock.

About Liberty Media Corporation - Liberty Formula One Series A

Liberty Media Corporation's Liberty Formula One Group is a tracking-stock group whose principal business is Formula 1, the international motor-racing series. Formula 1 organizes and promotes the FIA Formula One World Championship and commercializes its media, sponsorship, licensing, hospitality and other related rights.

The business serves a global audience, with races, broadcast distribution and commercial partnerships spanning multiple regions. Its activities include working with race promoters, teams, broadcasters and sponsors, as well as developing digital content and experiences for fans.

Liberty Media acquired Formula 1 in 2017.

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