Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Hits New 12-Month High - Here's Why

Key Points

• Liberty Media Corporation's Formula One Series A stock reached a new 52-week high of $96.73 and is currently trading around $96.17.
• Analysts are optimistic, with Guggenheim raising its price target to $110 and Zacks upgrading the stock to a "strong-buy" rating.
• The company reported impressive quarterly earnings, with an EPS of $1.52, significantly exceeding the consensus estimate of $0.52, and revenues of $1.34 billion.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $96.73 and last traded at $96.17, with a volume of 5116 shares. The stock had previously closed at $95.41.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FWONA shares. Guggenheim upped their price target on shares of Liberty Media Corporation - Liberty Formula One Series A from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Zacks Research upgraded Liberty Media Corporation - Liberty Formula One Series A from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Saturday, September 27th. Finally, Benchmark reaffirmed a "buy" rating and issued a $102.00 price objective on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $103.00.

Liberty Media Corporation - Liberty Formula One Series A Price Performance

The company has a market cap of $24.10 billion, a PE ratio of 94.67 and a beta of 0.53. The stock's 50-day moving average is $90.98 and its 200 day moving average is $87.34.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $1.00. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. On average, analysts expect that Liberty Media Corporation - Liberty Formula One Series A will post 1.46 EPS for the current year.

Insider Buying and Selling at Liberty Media Corporation - Liberty Formula One Series A

In other news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the sale, the director owned 1,781 shares in the company, valued at approximately $178,456.20. The trade was a 33.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 5,651 shares of company stock worth $572,250 in the last 90 days. 2.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Liberty Media Corporation - Liberty Formula One Series A

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its holdings in Liberty Media Corporation - Liberty Formula One Series A by 196.2% during the second quarter. Assetmark Inc. now owns 391 shares of the company's stock worth $37,000 after buying an additional 259 shares in the last quarter. State of Wyoming purchased a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter worth about $66,000. MAI Capital Management boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 76.2% during the 2nd quarter. MAI Capital Management now owns 821 shares of the company's stock worth $78,000 after acquiring an additional 355 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 853 shares of the company's stock worth $69,000 after acquiring an additional 191 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Liberty Media Corporation - Liberty Formula One Series A by 18.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,431 shares of the company's stock valued at $136,000 after buying an additional 221 shares in the last quarter. 8.38% of the stock is owned by hedge funds and other institutional investors.

Liberty Media Corporation - Liberty Formula One Series A Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.

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