Ardmore Road Asset Management LP Invests $1.56 Million in Liberty Media Corporation - Liberty Formula One Series A $FWONA

Key Points

• Ardmore Road Asset Management purchased 20,000 FWONA shares worth approximately $1.56 million in the first quarter. Institutional investors collectively own 8.38% of the company.
• FWONA opened at $89.07, within a 12-month range of $73.70 to $99.52. Analysts maintain a consensus “Buy” rating with an average price target of $110.
• Company insiders recently sold shares, including Director Chase Carey’s $9.03 million sale and Renee L. Wilm’s $1.04 million sale; insiders now own 0.63% of the stock.

Ardmore Road Asset Management LP purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 20,000 shares of the company's stock, valued at approximately $1,562,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FWONA. Norges Bank purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A during the fourth quarter worth about $90,433,000. Principal Financial Group Inc. grew its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 34.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,327,209 shares of the company's stock worth $118,630,000 after buying an additional 337,607 shares in the last quarter. KKM Financial LLC acquired a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A during the fourth quarter worth approximately $18,547,000. Hawk Ridge Capital Management LP bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A in the third quarter worth $14,953,000. Finally, Renaissance Technologies LLC raised its holdings in Liberty Media Corporation - Liberty Formula One Series A by 23.7% in the first quarter. Renaissance Technologies LLC now owns 347,122 shares of the company's stock valued at $27,103,000 after acquiring an additional 66,600 shares in the last quarter. Hedge funds and other institutional investors own 8.38% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series A Price Performance

FWONA opened at $89.07 on Monday. Liberty Media Corporation - Liberty Formula One Series A has a 12 month low of $73.70 and a 12 month high of $99.52. The stock has a market cap of $22.31 billion, a P/E ratio of 40.86 and a beta of 0.50. The stock's 50 day moving average price is $85.62 and its 200 day moving average price is $82.23.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FWONA shares. Citigroup reiterated a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Wednesday. Citizens Jmp restated a "market outperform" rating and issued a $120.00 target price (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Wednesday, June 24th. Finally, Zacks Research upgraded Liberty Media Corporation - Liberty Formula One Series A from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Liberty Media Corporation - Liberty Formula One Series A presently has a consensus rating of "Buy" and a consensus price target of $110.00.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares of the company's stock, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series A stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.63% of the stock is currently owned by company insiders.

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.

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