Shares of Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $91.69 and traded as low as $88.60. Liberty Media Corporation - Liberty Formula One Series A shares last traded at $89.70, with a volume of 158,528 shares traded.
Wall Street Analyst Weigh In
FWONA has been the subject of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Wednesday, June 24th. Citizens Jmp reissued a "market outperform" rating and issued a $120.00 price target (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Thursday, July 2nd. Zacks Research upgraded Liberty Media Corporation - Liberty Formula One Series A from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Citigroup reaffirmed 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 increased their price objective 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. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Liberty Media Corporation - Liberty Formula One Series A has an average rating of "Buy" and an average target price of $114.67.
Get Our Latest Research Report on FWONA
Liberty Media Corporation - Liberty Formula One Series A Stock Down 0.5%
The stock has a 50 day simple moving average of $91.69 and a 200 day simple moving average of $84.68. The company has a market cap of $22.47 billion, a price-to-earnings ratio of 131.91 and a beta of 0.49.
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to analysts' expectations of $954.37 million.
Insiders Place Their Bets
In other news, insider Renee Wilm sold 11,597 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. This represents a 42.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Liberty Media Corporation - Liberty Formula One Series A
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in Liberty Media Corporation - Liberty Formula One Series A by 2,144.3% during the second quarter. California State Teachers Retirement System now owns 28,188 shares of the company's stock worth $2,468,000 after purchasing an additional 26,932 shares in the last quarter. HB Wealth Management LLC acquired a new stake in Liberty Media Corporation - Liberty Formula One Series A in the second quarter worth approximately $294,000. Ancora Advisors LLC boosted its stake in Liberty Media Corporation - Liberty Formula One Series A by 390.0% during the 2nd quarter. Ancora Advisors LLC now owns 2,597 shares of the company's stock valued at $243,000 after purchasing an additional 2,067 shares in the last quarter. Madison Asset Management LLC bought a new position in Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter valued at $131,567,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Liberty Media Corporation - Liberty Formula One Series A during the 2nd quarter valued at $4,033,000. 8.38% of the stock is owned by institutional investors.
Liberty Media Corporation - Liberty Formula One Series A Company Profile
(
Get Free Report)
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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