Sanford C. Bernstein Upgrades Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) to “Strong-Buy”

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) was upgraded by analysts at Sanford C. Bernstein from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Benchmark reiterated a “buy” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Monday, December 29th. Finally, Zacks Research lowered Liberty Media Corporation – Liberty Formula One Series A from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

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

Liberty Media Corporation – Liberty Formula One Series A stock opened at $83.25 on Monday. Liberty Media Corporation – Liberty Formula One Series A has a 52 week low of $68.00 and a 52 week high of $99.52. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 106.73 and a beta of 0.54. The company’s 50-day moving average price is $87.63 and its two-hundred day moving average price is $90.24.

Insiders Place Their Bets

In other news, insider Renee L. Wilm sold 11,200 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $91.89, for a total transaction of $1,029,168.00. Following the sale, the insider directly owned 21,037 shares of the company’s stock, valued at $1,933,089.93. The trade was a 34.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chase Carey sold 109,121 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $102.54, for a total value of $11,189,267.34. Following the completion of the transaction, the director owned 93,102 shares of the company’s stock, valued at $9,546,679.08. This trade represents a 53.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 368,363 shares of company stock worth $36,650,423 over the last 90 days. Insiders own 2.97% of the company’s stock.

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

A number of large investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in Liberty Media Corporation – Liberty Formula One Series A during the first quarter worth approximately $2,232,000. Longboard Asset Management LP acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the second quarter worth $272,000. Cooper Investors PTY Ltd. boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 14.0% during the 2nd quarter. Cooper Investors PTY Ltd. now owns 51,971 shares of the company’s stock worth $4,935,000 after buying an additional 6,389 shares during the period. Plancorp LLC acquired a new position in Liberty Media Corporation – Liberty Formula One Series A in the 2nd quarter valued at $214,000. Finally, Signaturefd LLC raised its holdings in Liberty Media Corporation – Liberty Formula One Series A by 11.4% in the 2nd quarter. Signaturefd LLC now owns 2,750 shares of the company’s stock worth $261,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.