Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Director Sells $9,028,000.00 in Stock

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Director Chase Carey sold 100,000 shares of the business’s 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 completion of the transaction, the director directly owned 94,356 shares of the company’s stock, valued at approximately $8,518,459.68. This trade represents a 51.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Liberty Media Corporation – Liberty Formula One Series A Stock Up 0.5%

Shares of FWONA stock opened at $83.98 on Friday. The stock has a market cap of $21.04 billion, a PE ratio of 38.52 and a beta of 0.50. The business has a 50-day simple moving average of $80.96 and a 200-day simple moving average of $82.68. 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 Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Zacks Research raised 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. Citizens Jmp assumed 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 target for the company. Citigroup upped their price target on Liberty Media Corporation – Liberty Formula One Series A from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $103.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake 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 purchasing an additional 191,619 shares in the last quarter. Norges Bank acquired a new stake in Liberty Media Corporation – Liberty Formula One Series A in the fourth quarter valued at $90,433,000. Janus Henderson Group PLC raised its stake in Liberty Media Corporation – Liberty Formula One Series A by 1.1% in the first quarter. Janus Henderson Group PLC now owns 1,006,144 shares of the company’s stock valued at $78,560,000 after buying an additional 10,603 shares in the last quarter. Sculptor Capital LP raised its stake in Liberty Media Corporation – Liberty Formula One Series A by 1.7% in the second quarter. Sculptor Capital LP now owns 750,000 shares of the company’s stock valued at $71,220,000 after buying an additional 12,786 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. raised its stake in Liberty Media Corporation – Liberty Formula One Series A by 1.0% in the second quarter. Ruane Cunniff & Goldfarb L.P. now owns 748,343 shares of the company’s stock valued at $71,063,000 after buying an additional 7,113 shares in the last quarter. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

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.