Bank of New York Mellon Corp Invests $4.03 Million in Liberty Media Corporation - Liberty Formula One Series A $FWONA

Key Points

• Bank of New York Mellon acquired 46,067 FWONA shares valued at approximately $4.03 million during the second quarter. Other institutional investors also increased their positions, though total institutional ownership remains 8.38%.
• FWONA shares opened at $88.38, down 1.5%, while the company’s latest quarterly results missed expectations: earnings were $0.02 per share versus a $0.24 consensus estimate, and revenue totaled $934 million.
• Analysts maintain a generally positive view, with a consensus “Buy” rating and a $114.67 price target; Guggenheim and Citizens JMP recently raised their targets to $124 and $120, respectively.

Bank of New York Mellon Corp purchased a new position in Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,067 shares of the company's stock, valued at approximately $4,033,000.

A number of other large investors also recently modified their holdings of FWONA. American Century Companies Inc. raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 33.6% during the second quarter. American Century Companies Inc. now owns 3,845 shares of the company's stock worth $365,000 after acquiring an additional 968 shares in the last quarter. M&T Bank Corp raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 25.7% during the second quarter. M&T Bank Corp now owns 3,277 shares of the company's stock valued at $311,000 after acquiring an additional 670 shares during the last quarter. Amundi lifted its holdings in Liberty Media Corporation - Liberty Formula One Series A by 29.2% in the 2nd quarter. Amundi now owns 14,450 shares of the company's stock worth $1,336,000 after buying an additional 3,264 shares during the period. Daiwa Securities Group Inc. lifted its stake in Liberty Media Corporation - Liberty Formula One Series A by 54.2% in the second quarter. Daiwa Securities Group Inc. now owns 2,642 shares of the company's stock worth $251,000 after acquiring an additional 929 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 2.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 159,138 shares of the company's stock valued at $15,112,000 after purchasing an additional 4,459 shares in the last quarter. 8.38% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series A Stock Down 1.5%

Shares of FWONA stock opened at $88.38 on Friday. The company's fifty day simple moving average is $91.76 and its two-hundred day simple moving average is $84.71. Liberty Media Corporation - Liberty Formula One Series A has a 52 week low of $73.70 and a 52 week high of $99.52. The stock has a market cap of $22.14 billion, a P/E ratio of 129.97 and a beta of 0.49.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $954.37 million.

Insider Buying and Selling

In related news, insider Renee Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series A stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the completion of the transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

FWONA has been the topic of several recent research reports. Citigroup reaffirmed a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Wednesday, June 24th. Zacks Research upgraded Liberty Media Corporation - Liberty Formula One Series A from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Guggenheim lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series A from $116.00 to $124.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $120.00 price target (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series A currently has a consensus rating of "Buy" and a consensus target price of $114.67.

Liberty Media Corporation - Liberty Formula One Series A Profile

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.

Want to see what other hedge funds are holding FWONA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report).

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