Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Downgraded by Zacks Research to Hold

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on FWONA. Guggenheim upped their target price on Liberty Media Corporation – Liberty Formula One Series A from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $102.00 target price on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Thursday, June 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Liberty Media Corporation – Liberty Formula One Series A Trading Down 1.7%

NASDAQ:FWONA opened at $93.70 on Thursday. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 91.86 and a beta of 0.53. Liberty Media Corporation – Liberty Formula One Series A has a 1-year low of $68.00 and a 1-year high of $99.52. The business’s fifty day moving average price is $91.65 and its 200 day moving average price is $88.01.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $0.52 by $1.00. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Equities analysts forecast that Liberty Media Corporation – Liberty Formula One Series A will post 1.46 earnings per share for the current year.

Insider Activity

In other news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the completion of the sale, the director owned 1,781 shares in the company, valued at approximately $178,456.20. This represents a 33.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 5,651 shares of company stock worth $572,250. Corporate insiders own 2.97% of the company’s stock.

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

Several large investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 4.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,708 shares of the company’s stock worth $352,000 after acquiring an additional 160 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 6.1% during the 2nd quarter. QRG Capital Management Inc. now owns 3,056 shares of the company’s stock valued at $290,000 after purchasing an additional 177 shares during the period. Russell Investments Group Ltd. boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 853 shares of the company’s stock valued at $69,000 after purchasing an additional 191 shares during the period. California State Teachers Retirement System boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 18.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,431 shares of the company’s stock valued at $136,000 after purchasing an additional 221 shares during the period. Finally, Assetmark Inc. boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 196.2% during the 2nd quarter. Assetmark Inc. now owns 391 shares of the company’s stock valued at $37,000 after purchasing an additional 259 shares during the period. Institutional investors own 8.38% of the company’s stock.

About Liberty Media Corporation – Liberty Formula One Series A

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.