Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Hits New 52-Week High – Still a Buy?

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) reached a new 52-week high during trading on Thursday. The stock traded as high as $99.49 and last traded at $98.1350, with a volume of 1,352 shares traded. The stock had previously closed at $91.03.

Analysts Set New Price Targets

FWONA has been the topic of a number of analyst reports. Guggenheim lifted their target price on shares of Liberty Media Corporation – Liberty Formula One Series A from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Citigroup reissued a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $114.67.

Liberty Media Corporation – Liberty Formula One Series A Price Performance

The stock has a market cap of $24.65 billion, a P/E ratio of 144.34 and a beta of 0.52. The firm’s 50-day moving average price is $86.67 and its 200-day moving average price is $84.47.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last issued its earnings results on Thursday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.22). The company had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $954.37 million.

Institutional Trading of Liberty Media Corporation – Liberty Formula One Series A

Several hedge funds have recently bought and sold shares of FWONA. Madison Asset Management LLC bought a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the second quarter worth about $131,567,000. Principal Financial Group Inc. boosted 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 valued at $118,593,000 after buying an additional 191,619 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Liberty Media Corporation – Liberty Formula One Series A by 1.1% during 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 during the last quarter. Bank of New York Mellon Corp purchased a new position in Liberty Media Corporation – Liberty Formula One Series A during the 2nd quarter valued at approximately $56,066,000. Finally, Hawk Ridge Capital Management LP increased its stake in Liberty Media Corporation – Liberty Formula One Series A by 47.3% in the 1st 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 last quarter. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series A Company Profile

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.