2,867 Shares in Liberty Media Corporation - Liberty Formula One Series A $FWONA Acquired 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 purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,867 shares of the company's stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Liberty Media Corporation - Liberty Formula One Series A by 74.0% during the first quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company's stock valued at $1,497,000 after acquiring an additional 7,811 shares in the last quarter. Strs Ohio bought a new position in Liberty Media Corporation - Liberty Formula One Series A during the first quarter valued at approximately $2,232,000. Bank of New York Mellon Corp raised its position in Liberty Media Corporation - Liberty Formula One Series A by 2.2% during 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. Gabelli Funds LLC raised its position in Liberty Media Corporation - Liberty Formula One Series A by 2.3% during 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. Finally, Russell Investments Group Ltd. raised 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 valued at $69,000 after acquiring an additional 191 shares in the last quarter. Institutional investors own 8.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FWONA shares. Zacks Research raised shares of Liberty Media Corporation - Liberty Formula One Series A from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Sanford C. Bernstein started coverage on shares of 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 target on the stock. Benchmark reissued a "buy" rating and issued a $102.00 price target on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Thursday, June 12th. Finally, Guggenheim lifted their price target on shares of 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. 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 given a Sell rating to the company's stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series A currently has an average rating of "Moderate Buy" and an average target price of $103.00.

Liberty Media Corporation - Liberty Formula One Series A Stock Performance

Shares of NASDAQ:FWONA opened at $92.42 on Thursday. Liberty Media Corporation - Liberty Formula One Series A has a 52 week low of $68.00 and a 52 week high of $96.40. The company's fifty day moving average is $90.65 and its 200-day moving average is $86.32. The company has a market capitalization of $23.05 billion, a PE ratio of 90.61 and a beta of 0.52.

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

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

In related news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $102.44, for a total transaction of $397,979.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 5,651 shares of company stock worth $572,250. 2.97% of the stock is owned by corporate insiders.

About Liberty Media Corporation - Liberty Formula One Series A

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.