Engineers Gate Manager LP Increases Stock Holdings in Liberty Media Corporation - Liberty Formula One Series A $FWONA

Key Points

• Engineers Gate Manager LP increased its FWONA stake by 4,106.5% in the second quarter, holding 174,442 shares valued at approximately $15.3 million. Institutional investors collectively own 8.38% of the company.
• Analysts maintain a generally positive outlook, with FWONA carrying an average “Buy” rating and a consensus price target of $114.67; Guggenheim recently raised its target to $124.
• Liberty Media’s latest results fell short of expectations, with quarterly EPS of $0.02 versus a $0.24 consensus and revenue of $934 million versus $954.37 million expected. Separately, insider Renee Wilm sold 11,597 shares at an average price of $90.09.

Engineers Gate Manager LP increased its stake in shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) by 4,106.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 174,442 shares of the company's stock after purchasing an additional 170,295 shares during the quarter. Engineers Gate Manager LP owned 0.07% of Liberty Media Corporation - Liberty Formula One Series A worth $15,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FWONA. Northwestern Mutual Wealth Management Co. increased its position in Liberty Media Corporation - Liberty Formula One Series A by 55.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 352 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 311.8% during the 4th quarter. Global Retirement Partners LLC now owns 490 shares of the company's stock worth $44,000 after purchasing an additional 371 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 64.7% during the 4th quarter. TD Private Client Wealth LLC now owns 532 shares of the company's stock worth $48,000 after purchasing an additional 209 shares during the period. State of Wyoming bought a new position in Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter valued at about $66,000. Finally, Kestra Advisory Services LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series A during the 4th quarter valued at about $90,000. Hedge funds and other institutional investors own 8.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FWONA. Guggenheim raised their price objective 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 note on Friday, August 14th. Citizens Jmp reaffirmed a "market outperform" rating and set 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. Citigroup reiterated a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series A presently has an average rating of "Buy" and an average price target of $114.67.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series A

In other news, insider Renee Wilm sold 11,597 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series A Price Performance

FWONA stock opened at $88.65 on Thursday. Liberty Media Corporation - Liberty Formula One Series A has a 1-year low of $73.70 and a 1-year high of $99.52. The business has a 50-day moving average price of $91.76 and a 200 day moving average price of $84.90. The company has a market capitalization of $22.21 billion, a P/E ratio of 130.37 and a beta of 0.49.

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

About Liberty Media Corporation - Liberty Formula One Series A

Liberty Media Corporation's Liberty Formula One Series A represents an interest in the company's Formula One Group, which is primarily involved in the commercial and promotional management of the Formula 1 World Championship. The business oversees the global championship's commercial rights, including race promotion, media and broadcasting rights, sponsorships, hospitality, licensing and other related activities.

Formula 1 organizes and promotes a worldwide motor racing series featuring events held across Europe, the Americas, Asia, the Middle East and Australia.

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