Principal Financial Group Inc. Boosts Holdings in Liberty Media Corporation - Liberty Formula One Series A $FWONA

Key Points

• Principal Financial Group increased its stake in Liberty Media Corporation - Liberty Formula One Series A by 14.4% in the first quarter, adding 191,619 shares to bring its total to 1,518,828 shares valued at about $118.6 million.
• Several other institutional investors also raised their holdings, and hedge funds and institutions now own 8.38% of FWONA shares overall.
• Analysts are generally positive on the stock, with a consensus rating of Buy and an average price target of $110, while insiders recently sold shares, including major sales by Renee L. Wilm and director Chase Carey.

Principal Financial Group Inc. grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Free Report) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,518,828 shares of the company's stock after purchasing an additional 191,619 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of Liberty Media Corporation - Liberty Formula One Series A worth $118,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FWONA. Wealth Enhancement Advisory Services LLC raised its stake in Liberty Media Corporation - Liberty Formula One Series A by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,614 shares of the company's stock worth $937,000 after buying an additional 120 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 acquiring an additional 125 shares in the last quarter. QRG Capital Management Inc. boosted its position in Liberty Media Corporation - Liberty Formula One Series A by 3.9% during the 1st quarter. QRG Capital Management Inc. now owns 3,441 shares of the company's stock valued at $269,000 after acquiring an additional 128 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings 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 worth $27,000 after acquiring an additional 150 shares during the period. Finally, TD Private Client Wealth LLC grew 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 acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 8.38% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series A Stock Performance

Shares of NASDAQ FWONA opened at $91.51 on Thursday. The company has a 50 day simple moving average of $84.71 and a two-hundred day simple moving average of $82.16. Liberty Media Corporation - Liberty Formula One Series A has a fifty-two week low of $73.70 and a fifty-two week high of $99.52. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of 41.98 and a beta of 0.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research upgraded 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. 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. Citizens Jmp reissued 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 report on Thursday, July 2nd. Finally, Citigroup boosted their target price 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 report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series A presently has a consensus rating of "Buy" and a consensus price target of $110.00.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 11,597 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the completion of the transaction, the insider directly owned 15,590 shares in the company, valued at $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation - Liberty Formula One Series A stock in a transaction dated Wednesday, May 27th. The stock was 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 of the company's stock, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.63% of the stock is currently 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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