Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Hits New 1-Year High – Still a Buy?

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $99.49 and last traded at $98.1350, with a volume of 1,352 shares trading hands. The stock had previously closed at $91.03.

Wall Street Analysts Forecast Growth

FWONA has been the subject of a number of recent analyst reports. Guggenheim upped their price target on shares of 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. Citigroup reissued a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series A currently has a consensus rating of “Buy” and a consensus target price of $114.67.

Read Our Latest Research Report on Liberty Media Corporation – Liberty Formula One Series A

Liberty Media Corporation – Liberty Formula One Series A Trading Up 1.3%

The firm has a market capitalization of $25.30 billion, a P/E ratio of 116.10 and a beta of 0.52. The business has a 50-day moving average of $86.89 and a 200 day moving average of $84.65.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion.

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

A number of institutional investors have recently added to or reduced their stakes in FWONA. Madison Asset Management LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series A during the 2nd quarter worth approximately $131,567,000. Bank of New York Mellon Corp bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series A during the 2nd quarter worth about $56,066,000. Principal Financial Group Inc. boosted its holdings in 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 worth $118,593,000 after buying an additional 191,619 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 4,106.5% in 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 increased its position in 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 acquiring an additional 141,700 shares during the period. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series A Company Profile

(Get Free Report)

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.

Further Reading

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