Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Announces Earnings Results

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) released its earnings results on Thursday. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22), FiscalAI reports. The business had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $954.37 million.

Liberty Media Corporation – Liberty Formula One Series A Stock Performance

FWONA stock traded up $2.70 during midday trading on Friday, hitting $93.96. 147,268 shares of the company’s stock were exchanged, compared to its average volume of 163,553. Liberty Media Corporation – Liberty Formula One Series A has a one year low of $73.70 and a one year high of $99.52. The company has a market cap of $23.54 billion, a PE ratio of 138.18 and a beta of 0.49. The stock’s fifty day moving average price is $87.23 and its 200-day moving average price is $82.76.

Insider Activity

In other news, insider Renee L. Wilm sold 11,597 shares of the firm’s 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 sale, the insider owned 15,590 shares of the company’s stock, valued at $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 available through this hyperlink. Also, Director Chase Carey sold 100,000 shares of Liberty Media Corporation – Liberty Formula One Series A stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total value of $9,028,000.00. Following the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. This trade represents a 51.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series A

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 55.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 352 shares of the company’s stock valued at $34,000 after buying an additional 125 shares during the period. Global Retirement Partners LLC increased its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 311.8% during the fourth quarter. Global Retirement Partners LLC now owns 490 shares of the company’s stock worth $44,000 after acquiring an additional 371 shares in the last quarter. State of Wyoming acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A during the second quarter worth $66,000. Kestra Advisory Services LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A during the fourth quarter worth $90,000. Finally, California State Teachers Retirement System lifted its position in Liberty Media Corporation – Liberty Formula One Series A by 18.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,431 shares of the company’s stock valued at $136,000 after acquiring an additional 221 shares in the last quarter. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FWONA. Citizens Jmp restated 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 report on Thursday, July 2nd. Citigroup reiterated a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday, July 22nd. 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Liberty Media Corporation – Liberty Formula One Series A presently has a consensus rating of “Buy” and a consensus target price of $110.00.

Liberty Media Corporation – Liberty Formula One Series A Company Profile

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.