Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Given Average Rating of "Buy" by Brokerages

Key Points

• Wall Street sentiment is positive on Liberty Media Formula One Series A, with seven analysts giving it an average rating of “Buy.” The average 12-month price target is about $103.33.
• The stock was up 2.3% and opened at $84.88, while its 52-week range is $73.70 to $99.52. It also has a market cap of about $21.26 billion.
• Recent insider selling included large share sales by Renee L. Wilm and Chase Carey. Institutional investors still own 8.38% of the company, according to the article.

Shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $103.3333.

FWONA has been the subject of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Wednesday. 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 note on Tuesday, May 12th. 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 stock a "buy" rating in a research note on Monday, May 11th. Finally, Citizens Jmp started coverage on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Monday, March 30th. They issued a "market outperform" rating and a $100.00 price target for the company.

Liberty Media Corporation - Liberty Formula One Series A Stock Up 2.3%

NASDAQ:FWONA opened at $84.88 on Friday. The company has a fifty day simple moving average of $82.37 and a two-hundred day simple moving average of $81.92. The company has a market cap of $21.26 billion, a price-to-earnings ratio of 38.94 and a beta of 0.52. Liberty Media Corporation - Liberty Formula One Series A has a 52 week low of $73.70 and a 52 week high of $99.52.

Insiders Place Their Bets

In related news, insider Renee L. Wilm sold 11,597 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business's 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 transaction, the director owned 94,356 shares of the company's stock, valued at approximately $8,518,459.68. The trade was a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series A

A number of institutional investors and hedge funds have recently modified their holdings of FWONA. TD Waterhouse Canada Inc. grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 100.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 300 shares of the company's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $34,000 after purchasing an additional 125 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 311.8% during the fourth 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 grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 64.7% during the fourth quarter. TD Private Client Wealth LLC now owns 532 shares of the company's stock worth $48,000 after purchasing an additional 209 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series A during the second quarter worth $66,000. Institutional investors and hedge funds own 8.38% of the company's stock.

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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