Longboard Asset Management LP Purchases Shares of 2,867 Liberty Media Corporation - Liberty Formula One Series A $FWONA

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

Several other institutional investors have also modified their holdings of FWONA. Strs Ohio bought a new stake in Liberty Media Corporation - Liberty Formula One Series A in the first quarter valued at about $2,232,000. Gabelli Funds LLC increased its holdings in 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 buying an additional 2,625 shares during the last quarter. Quantbot Technologies LP increased its holdings in 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 buying an additional 916 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Liberty Media Corporation - Liberty Formula One Series A by 28.9% in the first quarter. Russell Investments Group Ltd. now owns 853 shares of the company's stock valued at $69,000 after buying an additional 191 shares during the last quarter. Finally, S&CO Inc. increased its holdings in 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 buying an additional 660 shares during the last quarter. Institutional investors and hedge funds own 8.38% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series A Price Performance

Shares of NASDAQ:FWONA traded down $0.37 on Friday, reaching $93.48. 271,913 shares of the company traded hands, compared to its average volume of 80,276. The company's 50 day moving average is $90.69 and its 200-day moving average is $86.44. Liberty Media Corporation - Liberty Formula One Series A has a fifty-two week low of $68.00 and a fifty-two week high of $96.40. The stock has a market capitalization of $23.32 billion, a PE ratio of 91.65 and a beta of 0.52.

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

Insider Buying and Selling

In other Liberty Media Corporation - Liberty Formula One Series A news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $102.44, for a total transaction of $397,979.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 5,651 shares of company stock worth $572,250 over the last 90 days. Corporate insiders own 2.97% of the company's stock.

Analysts Set New Price Targets

FWONA has been the subject of several research analyst reports. Sanford C. Bernstein started coverage on Liberty Media Corporation - Liberty Formula One Series A in a report on Wednesday, June 4th. They issued a "market perform" rating and a $105.00 price objective for the company. Benchmark reaffirmed a "buy" rating and set a $102.00 target price on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Thursday, June 12th. Zacks Research raised Liberty Media Corporation - Liberty Formula One Series A from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Guggenheim boosted their price objective on Liberty Media Corporation - Liberty Formula One Series A from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Two equities 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

Liberty Media Corporation - Liberty Formula One Series A 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.