Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Hits New 52-Week High - Still a Buy?

Key Points

• FWONA reached a new 52-week high, trading as high as $99.49 versus its previous close of $91.03.
• Analysts have a consensus Buy rating and an average price target of $114.67; Guggenheim recently raised its target to $124.
• The latest quarter fell short of estimates: earnings were $0.02 per share versus a $0.24 consensus, while revenue was $934 million against estimates of $954.37 million.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) shares hit a new 52-week high on Thursday. The company traded as high as $99.49 and last traded at $98.1350, with a volume of 1,352 shares traded. The stock had previously closed at $91.03.

Wall Street Analyst Weigh In

A number of brokerages have commented on FWONA. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Monday, September 21st. Citigroup restated a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Wednesday, July 22nd. Finally, Guggenheim upped their target price on shares of Liberty Media Corporation - Liberty Formula One Series A from $116.00 to $124.00 and gave the company a "buy" rating in a report on Friday, August 14th. 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. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $114.67.

Liberty Media Corporation - Liberty Formula One Series A Stock Performance

The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 144.34 and a beta of 0.52. The business has a fifty day moving average of $86.67 and a two-hundred day moving average of $84.47.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $954.37 million.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Liberty Media Corporation - Liberty Formula One Series A by 9.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 159,804 shares of the company's stock worth $12,475,000 after acquiring an additional 13,908 shares during the period. Bank of New York Mellon Corp purchased a new stake in Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter valued at $4,033,000. S&CO Inc. purchased a new position in Liberty Media Corporation - Liberty Formula One Series A in the 2nd quarter worth about $5,624,000. Gabelli Funds LLC lifted its position in Liberty Media Corporation - Liberty Formula One Series A by 13.8% during the first quarter. Gabelli Funds LLC now owns 147,700 shares of the company's stock valued at $11,532,000 after purchasing an additional 17,950 shares during the period. Finally, Engineers Gate Manager LP increased its position in Liberty Media Corporation - Liberty Formula One Series A by 4,106.5% during the second quarter. Engineers Gate Manager LP now owns 174,442 shares of the company's stock valued at $15,271,000 after acquiring an additional 170,295 shares during the last quarter. 8.38% of the stock is currently owned by institutional investors.

About Liberty Media Corporation - Liberty Formula One Series A

Liberty Media Corporation's Liberty Formula One Series A common stock represents an economic interest in the company's Formula One Group, which owns the commercial rights to the FIA Formula One World Championship. The Formula One Group is responsible for promoting the championship and managing its commercial activities, including media and broadcasting rights, sponsorships, race promotion and other related partnerships.

Formula One is a global motorsports series featuring the Formula 1 World Championship and associated events.

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