Madison Asset Management LLC Invests $131.57 Million in Liberty Media Corporation - Liberty Formula One Series A $FWONA

Key Points

• Madison Asset Management purchased 1.42 million FWONA shares worth approximately $131.6 million, making the stock 1.6% of its portfolio and its 14th-largest holding. Institutional investors collectively own 8.38% of the company.
• FWONA shares opened at $96, near their 52-week high of $99.52, with a market capitalization of $24.05 billion. The stock trades at a high P/E ratio of 141.18.
• Analysts maintain a consensus “Buy” rating with an average price target of $114.67, although the company recently missed quarterly expectations, reporting $0.02 in EPS versus $0.24 expected and revenue of $934 million versus $954.37 million expected.

Madison Asset Management LLC 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 filing with the Securities & Exchange Commission. The fund purchased 1,419,211 shares of the company's stock, valued at approximately $131,567,000. Liberty Media Corporation - Liberty Formula One Series A makes up 1.6% of Madison Asset Management LLC's investment portfolio, making the stock its 14th biggest position. Madison Asset Management LLC owned approximately 0.57% of Liberty Media Corporation - Liberty Formula One Series A as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its stake in Liberty Media Corporation - Liberty Formula One Series A by 100.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 300 shares of the company's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Liberty Media Corporation - Liberty Formula One Series A by 55.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 352 shares of the company's stock worth $34,000 after purchasing an additional 125 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Liberty Media Corporation - Liberty Formula One Series A by 311.8% in 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 in the last quarter. TD Private Client Wealth LLC boosted its holdings 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 last quarter. Finally, State of Wyoming acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 8.38% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series A Price Performance

Shares of NASDAQ FWONA opened at $96.00 on Thursday. The company has a 50 day simple moving average of $89.33 and a 200-day simple moving average of $83.50. The company has a market capitalization of $24.05 billion, a P/E ratio of 141.18 and a beta of 0.49. Liberty Media Corporation - Liberty Formula One Series A has a 1 year low of $73.70 and a 1 year high of $99.52.

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

Analyst Upgrades and Downgrades

FWONA has been the subject of several recent research reports. Citizens Jmp reaffirmed a "market outperform" rating and issued a $120.00 price target (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Thursday, July 2nd. Zacks Research raised Liberty Media Corporation - Liberty Formula One Series A from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Guggenheim upped their target price on Liberty Media Corporation - Liberty Formula One Series A from $116.00 to $124.00 and gave the company a "buy" rating in a report on Friday, August 14th. 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. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $114.67.

Insiders Place Their Bets

In other news, Director Chase Carey sold 100,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the transaction, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Renee L. Wilm sold 11,597 shares of the firm's 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 sale, the insider directly owned 15,590 shares of the company's stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.63% of the stock is owned by 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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