Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Receives $108.00 Average Target Price from Brokerages

Shares of Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) have been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $108.00.

FWONA has been the subject of a number of research reports. Zacks Research raised shares of Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Monday, December 29th. Finally, Sanford C. Bernstein raised Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th.

Liberty Media Corporation – Liberty Formula One Series A Trading Down 1.5%

Shares of Liberty Media Corporation – Liberty Formula One Series A stock opened at $74.51 on Friday. Liberty Media Corporation – Liberty Formula One Series A has a 12-month low of $68.00 and a 12-month high of $99.52. The company has a market cap of $18.66 billion, a P/E ratio of 33.87 and a beta of 0.50. The company’s fifty day simple moving average is $79.77 and its two-hundred day simple moving average is $86.42.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey increased its position in 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 valued at $352,000 after buying an additional 160 shares in the last quarter. Creative Planning increased its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 73.9% during the second quarter. Creative Planning now owns 32,408 shares of the company’s stock valued at $3,077,000 after acquiring an additional 13,768 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Liberty Media Corporation – Liberty Formula One Series A in the 2nd quarter worth about $345,000. Highbridge Capital Management LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 27.8% in the 2nd quarter. Highbridge Capital Management LLC now owns 365,000 shares of the company’s stock worth $34,660,000 after purchasing an additional 79,413 shares during the last quarter. Finally, MAI Capital Management boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 76.2% in the 2nd quarter. MAI Capital Management now owns 821 shares of the company’s stock worth $78,000 after purchasing an additional 355 shares in the last quarter. 8.38% of the stock is currently owned by institutional investors.

About Liberty Media Corporation – Liberty Formula One Series A

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.