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

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FWONA shares. Guggenheim boosted their price objective on Liberty Media Corporation – Liberty Formula One Series A from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Monday, September 21st. Citigroup reiterated a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, July 22nd. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $120.00 price target (up from $100.00) on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Thursday, July 2nd. Two equities research 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 stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series A has a consensus rating of “Buy” and a consensus price target of $114.67.

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

The firm’s fifty day moving average price is $87.39 and its 200-day moving average price is $84.37. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 125.91 and a beta of 0.53.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $954.37 million.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series A

Several hedge funds have recently made changes to their positions in the company. Madison Asset Management LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series A during the second quarter worth $131,567,000. Bank of New York Mellon Corp purchased a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the second quarter valued at $56,066,000. Principal Financial Group Inc. boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 14.4% during the first quarter. Principal Financial Group Inc. now owns 1,518,828 shares of the company’s stock valued at $118,593,000 after acquiring an additional 191,619 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of 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. Finally, Hawk Ridge Capital Management LP grew its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 47.3% during the first quarter. Hawk Ridge Capital Management LP now owns 441,500 shares of the company’s stock worth $34,472,000 after buying an additional 141,700 shares in the last quarter. Hedge funds and other institutional investors 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.