Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Reaches New 1-Year High on Analyst Upgrade

Key Points

• FWONA hit a 52-week high of $104.71 after TD Cowen raised its price target from $107 to $113 and maintained a Buy rating. Analysts’ consensus is Moderate Buy, with a $114.25 target.
• The company’s latest quarter fell short of estimates, reporting EPS of $0.43 versus $0.56 expected and revenue of $1.23 billion versus $1.24 billion expected.
• Institutional investors and hedge funds own 8.38% of the stock; several reported increasing their holdings recently.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after TD Cowen raised their price target on the stock from $107.00 to $113.00. TD Cowen currently has a buy rating on the stock. Liberty Media Corporation - Liberty Formula One Series A traded as high as $104.71 and last traded at $104.3190, with a volume of 13,751 shares changing hands. The stock had previously closed at $103.87.

A number of other brokerages also recently weighed in on FWONA. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Monday, September 21st. Guggenheim raised their target price on shares of Liberty Media Corporation - Liberty Formula One Series A from $116.00 to $124.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 235.5% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the company's stock worth $35,000 after purchasing an additional 292 shares in the last quarter. CX Institutional bought a new stake in shares of Liberty Media Corporation - Liberty Formula One Series A during the third quarter valued at about $59,000. GAMMA Investing LLC raised its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 25.2% during the second quarter. GAMMA Investing LLC now owns 1,350 shares of the company's stock valued at $118,000 after purchasing an additional 272 shares in the last quarter. State of Wyoming lifted its holdings in Liberty Media Corporation - Liberty Formula One Series A by 67.1% in the first quarter. State of Wyoming now owns 1,462 shares of the company's stock worth $114,000 after purchasing an additional 587 shares during the period. Finally, Allworth Financial LP lifted its holdings in Liberty Media Corporation - Liberty Formula One Series A by 58.2% in the second quarter. Allworth Financial LP now owns 1,675 shares of the company's stock worth $147,000 after purchasing an additional 616 shares during the period. 8.38% of the stock is owned by institutional investors and hedge funds.

Liberty Media Corporation - Liberty Formula One Series A Trading Up 0.0%

The stock's 50-day moving average is $87.32 and its 200-day moving average is $84.87. The stock has a market cap of $26.02 billion, a P/E ratio of 119.35 and a beta of 0.52.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.13). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, equities analysts forecast that Liberty Media Corporation - Liberty Formula One Series A will post 2.11 EPS for the current year.

Liberty Media Corporation - Liberty Formula One Series A Company Profile

Liberty Media Corporation's Liberty Formula One Group is a tracking-stock group whose principal business is Formula 1, the international motor-racing series. Formula 1 organizes and promotes the FIA Formula One World Championship and commercializes its media, sponsorship, licensing, hospitality and other related rights. The business serves a global audience, with races, broadcast distribution and commercial partnerships spanning multiple regions. Its activities include working with race promoters, teams, broadcasters and sponsors, as well as developing digital content and experiences for fans.

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