Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Posts Earnings Results, Misses Expectations By $0.22 EPS

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) posted its earnings results on Thursday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.22), FiscalAI reports. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $954.37 million.

Liberty Media Corporation – Liberty Formula One Series A Trading Up 3.0%

Shares of NASDAQ FWONA traded up $2.70 during midday trading on Friday, reaching $93.96. 147,268 shares of the company were exchanged, compared to its average volume of 163,553. Liberty Media Corporation – Liberty Formula One Series A has a 1 year low of $73.70 and a 1 year high of $99.52. The stock has a fifty day simple moving average of $87.23 and a 200 day simple moving average of $82.76. The stock has a market cap of $23.54 billion, a P/E ratio of 138.18 and a beta of 0.49.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research upgraded Liberty Media Corporation – Liberty Formula One Series A from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup reiterated a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, July 22nd. Citizens Jmp reiterated a “market outperform” rating and issued a $120.00 price objective (up from $100.00) on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Thursday, July 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $110.00.

Insider Activity

In other Liberty Media Corporation – Liberty Formula One Series A news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the completion of the sale, the director directly owned 94,356 shares of the company’s stock, valued at $8,518,459.68. This represents a 51.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total value of $1,044,773.73. Following the sale, the insider directly owned 15,590 shares of the company’s stock, valued at $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Formula One Series A

Several hedge funds have recently modified their holdings of FWONA. KKM Financial LLC purchased a new position in Liberty Media Corporation – Liberty Formula One Series A in the 4th quarter valued at $18,547,000. Hawk Ridge Capital Management LP purchased a new position in Liberty Media Corporation – Liberty Formula One Series A during the 3rd quarter worth $14,953,000. Amundi raised its position in Liberty Media Corporation – Liberty Formula One Series A by 420.4% during the 4th quarter. Amundi now owns 71,214 shares of the company’s stock worth $6,365,000 after buying an additional 57,529 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A in the 2nd quarter worth $3,530,000. Finally, UBS Group AG lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 45.3% in the 3rd quarter. UBS Group AG now owns 117,073 shares of the company’s stock worth $11,148,000 after acquiring an additional 36,525 shares during the period. 8.38% of the stock is owned by institutional investors and hedge funds.

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.