Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Posts Earnings Results, Misses Expectations By $0.22 EPS

Key Points

• Liberty Formula One Group reported $0.02 in quarterly EPS, missing the $0.24 consensus estimate by $0.22. Revenue was $934 million, below analyst expectations of $954.37 million.
• FWONA shares rose 3.0% to $93.96 after the results, while analysts maintained a consensus “Buy” rating with an average price target of $110.
• Insiders reduced their holdings through stock sales, including Director Chase Carey’s sale of 100,000 shares and insider Renee L. Wilm’s sale of 11,597 shares.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) announced its earnings results on Thursday. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22), FiscalAI reports. The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $954.37 million.

Liberty Media Corporation - Liberty Formula One Series A Trading Up 3.0%

Shares of Liberty Media Corporation - Liberty Formula One Series A stock traded up $2.70 during trading on Friday, hitting $93.96. 147,268 shares of the stock were exchanged, compared to its average volume of 163,553. The company has a fifty day moving average price of $87.23 and a 200-day moving average price of $82.76. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 138.18 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.

Analyst Upgrades and Downgrades

FWONA has been the subject of several analyst reports. Citigroup restated a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a report on Wednesday, July 22nd. 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 target (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Thursday, July 2nd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $110.00.

Insider Activity

In related news, insider Renee L. Wilm sold 11,597 shares of Liberty Media Corporation - Liberty Formula One Series A stock in a transaction dated 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 owned 15,590 shares in the company, valued at approximately $1,404,503.10. This trade represents a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.63% of the company's stock.

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. First Trust Advisors LP acquired a new position in Liberty Media Corporation - Liberty Formula One Series A in the 4th quarter valued at about $226,000. HighTower Advisors LLC acquired a new stake in Liberty Media Corporation - Liberty Formula One Series A during the fourth quarter worth approximately $311,000. CIBC Private Wealth Group LLC lifted its position in Liberty Media Corporation - Liberty Formula One Series A by 44.6% during the third quarter. CIBC Private Wealth Group LLC now owns 1,550 shares of the company's stock worth $148,000 after acquiring an additional 478 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series A by 12.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 2,529 shares of the company's stock worth $241,000 after acquiring an additional 280 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series A by 339.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,375 shares of the company's stock worth $320,000 after acquiring an additional 2,607 shares during the period. 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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