Principal Financial Group Inc. Purchases 337,607 Shares of Liberty Media Corporation – Liberty Formula One Series A $FWONA

Principal Financial Group Inc. grew its position in shares of Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) by 34.1% in the fourth quarter, HoldingsChannel reports. The fund owned 1,327,209 shares of the company’s stock after acquiring an additional 337,607 shares during the period. Principal Financial Group Inc.’s holdings in Liberty Media Corporation – Liberty Formula One Series A were worth $118,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FWONA. TD Waterhouse Canada Inc. lifted its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 100.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. TD Private Client Wealth LLC grew its position in Liberty Media Corporation – Liberty Formula One Series A by 1,304.3% in the third quarter. TD Private Client Wealth LLC now owns 323 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Liberty Media Corporation – Liberty Formula One Series A by 55.1% in the 3rd 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 last quarter. State of Wyoming acquired a new stake in Liberty Media Corporation – Liberty Formula One Series A in the 2nd quarter valued at $66,000. Finally, Jones Financial Companies Lllp lifted its position in Liberty Media Corporation – Liberty Formula One Series A by 19.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 895 shares of the company’s stock worth $85,000 after buying an additional 143 shares in the last quarter. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series A Stock Performance

Shares of FWONA stock opened at $81.67 on Thursday. The firm’s 50-day moving average is $79.53 and its 200-day moving average is $83.44. The stock has a market cap of $20.46 billion, a price-to-earnings ratio of 37.12 and a beta of 0.50. Liberty Media Corporation – Liberty Formula One Series A has a 52-week low of $73.70 and a 52-week high of $99.52.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FWONA shares. Citigroup decreased their price objective on Liberty Media Corporation – Liberty Formula One Series A from $100.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Friday, March 27th. Zacks Research downgraded Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, Citizens Jmp started coverage on Liberty Media Corporation – Liberty Formula One Series A in a report on Monday, March 30th. They issued a “market outperform” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.40.

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.