Liberty Media Corporation - Liberty Formula One Series A $FWONA Stock Holdings Trimmed by State Street Corp

Key Points

• State Street reduced its FWONA stake by 3.5% in the second quarter, selling 12,316 shares and retaining 342,312 shares valued at approximately $30 million. Institutional investors collectively own 8.38% of the company.
• Analyst sentiment remains positive, with FWONA holding a consensus “Buy” rating and an average price target of $114.67; Guggenheim and Citizens JMP recently raised their targets.
• FWONA opened at $86.73, below its 12-month high of $99.52. Its latest quarterly results missed expectations, with earnings per share of $0.02 versus a $0.24 consensus estimate and revenue of $934 million versus $954.37 million expected.

State Street Corp lessened its stake in Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 342,312 shares of the company's stock after selling 12,316 shares during the quarter. State Street Corp owned about 0.14% of Liberty Media Corporation - Liberty Formula One Series A worth $29,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FWONA. Cross Staff Investments Inc acquired a new stake in Liberty Media Corporation - Liberty Formula One Series A during the 4th quarter worth approximately $109,000. GAMMA Investing LLC boosted its position in Liberty Media Corporation - Liberty Formula One Series A by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,350 shares of the company's stock worth $118,000 after purchasing an additional 272 shares during the period. State of Wyoming boosted its position in Liberty Media Corporation - Liberty Formula One Series A by 67.1% during the 1st quarter. State of Wyoming now owns 1,462 shares of the company's stock worth $114,000 after purchasing an additional 587 shares during the period. Allworth Financial LP grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 58.2% in the second quarter. Allworth Financial LP now owns 1,675 shares of the company's stock valued at $147,000 after buying an additional 616 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Liberty Media Corporation - Liberty Formula One Series A by 73,166.7% in the first quarter. Fifth Third Bancorp now owns 2,198 shares of the company's stock valued at $172,000 after acquiring an additional 2,195 shares in the last quarter. Institutional investors and hedge funds own 8.38% of the company's stock.

Analyst Ratings Changes

FWONA has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Monday. Guggenheim upped their price objective on shares of Liberty Media Corporation - Liberty Formula One Series A from $116.00 to $124.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Citizens Jmp restated a "market outperform" rating and set a $120.00 price objective (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Thursday, July 2nd. Finally, Citigroup restated a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Wednesday, July 22nd. Two 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 company. According to MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series A currently has a consensus rating of "Buy" and an average target price of $114.67.

Liberty Media Corporation - Liberty Formula One Series A Price Performance

Liberty Media Corporation - Liberty Formula One Series A stock opened at $86.73 on Friday. 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 company has a fifty day moving average price of $90.90 and a two-hundred day moving average price of $85.38. The company has a market cap of $21.72 billion, a PE ratio of 127.54 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 for the quarter, missing analysts' consensus estimates 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.

Liberty Media Corporation - Liberty Formula One Series A Company Profile

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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