Norges Bank Takes $90.43 Million Position in Liberty Media Corporation - Liberty Formula One Series A $FWONA

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Liberty Media Formula One Series A, buying 1,011,778 shares worth about $90.4 million. The position represents roughly 0.40% of the company.
• Several other institutional investors also increased their holdings, while hedge funds and other institutions now own 8.38% of the stock overall. Separately, director Chase Carey sold 100,000 shares in May, reducing his ownership by more than half.
• Analyst sentiment is broadly positive: FWONA carries a Buy consensus rating with a $103 average price target. The stock recently traded at $80.94, below its 52-week high of $99.52.

Norges Bank purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,011,778 shares of the company's stock, valued at approximately $90,433,000. Norges Bank owned approximately 0.40% of Liberty Media Corporation - Liberty Formula One Series A at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its position in shares of 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 purchasing an additional 150 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 55.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 352 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Global Retirement Partners LLC grew its position 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 valued at $44,000 after purchasing an additional 371 shares in the last quarter. TD Private Client Wealth LLC grew its position 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 valued at $48,000 after purchasing an additional 209 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter valued at $66,000. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Liberty Media Corporation - Liberty Formula One Series A

In related news, Director Chase Carey sold 100,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value 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. The trade was a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

FWONA has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Friday, March 27th. Citizens Jmp initiated coverage on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Monday, March 30th. They set a "market outperform" rating and a $100.00 price target for the company. Citigroup boosted their price target on shares of Liberty Media Corporation - Liberty Formula One Series A from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of 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 research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $103.00.

Liberty Media Corporation - Liberty Formula One Series A Stock Performance

Shares of NASDAQ:FWONA opened at $80.94 on Friday. 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 firm has a fifty day moving average of $81.53 and a 200 day moving average of $82.31. The firm has a market capitalization of $20.27 billion, a PE ratio of 37.13 and a beta of 0.52.

Liberty Media Corporation - Liberty Formula One Series A Company 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.

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