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

Zacks Research cut shares of Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

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

Liberty Media Corporation – Liberty Formula One Series A Price Performance

Shares of NASDAQ FWONA opened at $93.70 on Thursday. Liberty Media Corporation – Liberty Formula One Series A has a one year low of $68.00 and a one year high of $99.52. The firm’s 50 day simple moving average is $91.65 and its two-hundred day simple moving average is $88.06. The stock has a market capitalization of $23.37 billion, a P/E ratio of 91.86 and a beta of 0.53.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last issued its earnings results on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $1.00. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, equities analysts expect that Liberty Media Corporation – Liberty Formula One Series A will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $100.20, for a total value of $89,979.60. Following the completion of the sale, the director owned 1,781 shares of the company’s stock, valued at $178,456.20. This trade represents a 33.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 5,651 shares of company stock valued at $572,250 over the last ninety days. Company insiders own 2.97% of the company’s stock.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in Liberty Media Corporation – Liberty Formula One Series A by 74.0% during the first quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company’s stock valued at $1,497,000 after buying an additional 7,811 shares during the period. Cooper Investors PTY Ltd. lifted its position in Liberty Media Corporation – Liberty Formula One Series A by 14.0% during the second quarter. Cooper Investors PTY Ltd. now owns 51,971 shares of the company’s stock valued at $4,935,000 after buying an additional 6,389 shares during the period. Longboard Asset Management LP purchased a new position in Liberty Media Corporation – Liberty Formula One Series A during the second quarter valued at $272,000. Strs Ohio purchased a new position in Liberty Media Corporation – Liberty Formula One Series A during the first quarter valued at $2,232,000. Finally, Bank of New York Mellon Corp lifted its position in Liberty Media Corporation – Liberty Formula One Series A by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 59,343 shares of the company’s stock valued at $4,835,000 after buying an additional 1,300 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

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.