Liberty Media Formula One Series A (NASDAQ:FWONA) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Liberty Media Formula One Series A (NASDAQ:FWONA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Liberty Media Corporation is engaged in media, communications and entertainment businesses through its subsidiaries and investments in publicly-traded companies. Liberty Media Corporation is based in Englewood, Colorado. “

Several other equities research analysts have also commented on the stock. FBN Securities raised shares of Liberty Media Formula One Series A from a sector perform rating to an outperform rating in a research report on Tuesday, August 25th. Berenberg Bank assumed coverage on shares of Liberty Media Formula One Series A in a report on Thursday, October 1st. They issued a buy rating for the company. Finally, Pivotal Research increased their target price on shares of Liberty Media Formula One Series A from $44.00 to $47.00 and gave the stock a buy rating in a report on Wednesday, September 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Liberty Media Formula One Series A currently has an average rating of Buy and a consensus target price of $39.75.

NASDAQ FWONA opened at $33.34 on Wednesday. Liberty Media Formula One Series A has a 52 week low of $16.87 and a 52 week high of $46.52. The firm has a market capitalization of $7.73 billion, a P/E ratio of -12.30 and a beta of 1.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $34.28 and a 200-day moving average price of $31.30.

Liberty Media Formula One Series A (NASDAQ:FWONA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.86) EPS for the quarter. Liberty Media Formula One Series A had a negative net margin of 51.60% and a negative return on equity of 2.86%. The business had revenue of $24.00 million for the quarter. As a group, equities research analysts anticipate that Liberty Media Formula One Series A will post -2.52 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in FWONA. The Manufacturers Life Insurance Company grew its holdings in Liberty Media Formula One Series A by 41.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 937,363 shares of the company’s stock valued at $24,203,000 after buying an additional 275,721 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Liberty Media Formula One Series A by 36.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 733,106 shares of the company’s stock valued at $21,392,000 after buying an additional 194,630 shares in the last quarter. Southeastern Asset Management Inc. TN grew its holdings in Liberty Media Formula One Series A by 4.1% during the 1st quarter. Southeastern Asset Management Inc. TN now owns 2,438,674 shares of the company’s stock valued at $62,966,000 after buying an additional 95,659 shares in the last quarter. UBS Group AG grew its holdings in Liberty Media Formula One Series A by 58.7% during the 2nd quarter. UBS Group AG now owns 255,449 shares of the company’s stock valued at $7,454,000 after buying an additional 94,457 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Liberty Media Formula One Series A by 25.4% during the 1st quarter. Wells Fargo & Company MN now owns 281,225 shares of the company’s stock valued at $7,261,000 after acquiring an additional 57,011 shares during the last quarter. 9.68% of the stock is owned by institutional investors and hedge funds.

About Liberty Media Formula One Series A

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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