Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• FWONA crossed above its 200-day moving average, reaching $85.73 and last trading at $85.62, while the 200-day average stood at $84.37.
• Analysts remain generally positive, with an average “Buy” rating and a $114.67 price target; Guggenheim raised its target to $124 and Citizens JMP increased its target to $120.
• The company’s latest quarterly results fell short of expectations, reporting $0.02 in earnings per share versus a $0.24 consensus estimate and revenue of $934 million versus $954.37 million expected.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $84.37 and traded as high as $85.73. Liberty Media Corporation - Liberty Formula One Series A shares last traded at $85.62, with a volume of 194,192 shares.

Analyst Upgrades and Downgrades

FWONA has been the topic of several analyst reports. Guggenheim lifted their price target 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 research report on Friday, August 14th. Citigroup reiterated a "market outperform" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Wednesday, July 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Liberty Media Corporation - Liberty Formula One Series A in a research note on Monday, September 21st. Finally, Citizens Jmp restated a "market outperform" rating and issued a $120.00 target price (up from $100.00) on shares of Liberty Media Corporation - Liberty Formula One Series A in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $114.67.

Liberty Media Corporation - Liberty Formula One Series A Trading Up 2.1%

The business has a fifty day moving average of $87.39 and a 200 day moving average of $84.37. The company has a market capitalization of $21.45 billion, a PE ratio of 125.91 and a beta of 0.53.

Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share 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 the consensus estimate of $954.37 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in Liberty Media Corporation - Liberty Formula One Series A by 235.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the company's stock worth $35,000 after buying an additional 292 shares in the last quarter. CX Institutional purchased a new position in Liberty Media Corporation - Liberty Formula One Series A in the 3rd quarter valued at approximately $59,000. GAMMA Investing LLC grew its stake in shares of Liberty Media Corporation - Liberty Formula One Series A by 25.2% in the second quarter. GAMMA Investing LLC now owns 1,350 shares of the company's stock worth $118,000 after acquiring an additional 272 shares in the last quarter. State of Wyoming grew its stake in shares of 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 acquiring an additional 587 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of 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 acquiring an additional 616 shares in the last quarter. Institutional investors and hedge funds own 8.38% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series A Company Profile

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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