2,867 Shares in Liberty Media Corporation - Liberty Formula One Series A $FWONA Bought by Longboard Asset Management LP

Key Points

• Longboard Asset Management LP acquired 2,867 shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ: FWONA) valued at approximately $272,000 in the second quarter of 2023.
• In the first quarter, several institutions, including Janney Montgomery Scott LLC and Strs Ohio, significantly increased their holdings in FWONA, reflecting growing institutional interest.
• Equities analysts have issued a variety of ratings on FWONA, with Zacks Research upgrading it to a strong-buy and an average target price set at $103.00, indicating positive sentiment towards the stock.

Longboard Asset Management LP bought a new position in shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,867 shares of the company's stock, valued at approximately $272,000.

A number of other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Liberty Media Corporation - Liberty Formula One Series A by 28.9% during the first quarter. Russell Investments Group Ltd. now owns 853 shares of the company's stock worth $69,000 after purchasing an additional 191 shares in the last quarter. S&CO Inc. lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 1.0% in the first quarter. S&CO Inc. now owns 67,554 shares of the company's stock valued at $5,503,000 after acquiring an additional 660 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 61.6% in the first quarter. Quantbot Technologies LP now owns 2,404 shares of the company's stock valued at $196,000 after acquiring an additional 916 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 59,343 shares of the company's stock valued at $4,835,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 2.3% in the first quarter. Gabelli Funds LLC now owns 115,150 shares of the company's stock valued at $9,381,000 after acquiring an additional 2,625 shares in the last quarter. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series A Trading Down 0.3%

FWONA stock traded down $0.24 during trading on Monday, reaching $93.24. 101,938 shares of the stock were exchanged, compared to its average volume of 90,268. Liberty Media Corporation - Liberty Formula One Series A has a twelve month low of $68.00 and a twelve month high of $96.40. The company has a market capitalization of $23.26 billion, a P/E ratio of 91.41 and a beta of 0.52. The stock has a 50 day simple moving average of $90.70 and a 200-day simple moving average of $86.52.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $1.00. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Equities analysts predict that Liberty Media Corporation - Liberty Formula One Series A will post 1.46 EPS for the current year.

Insider Activity at Liberty Media Corporation - Liberty Formula One Series A

In other news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $102.44, for a total value of $397,979.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 5,651 shares of company stock valued at $572,250. 2.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FWONA has been the topic of several recent research reports. Guggenheim upped their price objective on Liberty Media Corporation - Liberty Formula One Series A from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein initiated coverage on Liberty Media Corporation - Liberty Formula One Series A in a research report on Wednesday, June 4th. They issued a "market perform" rating and a $105.00 price objective on the stock. Benchmark restated a "buy" rating and issued a $102.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Thursday, June 12th. Finally, Zacks Research upgraded Liberty Media Corporation - Liberty Formula One Series A from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.00.

Liberty Media Corporation - Liberty Formula One Series A Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.