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

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Wednesday. Guggenheim upped their price objective on Liberty Media Corporation – Liberty Formula One Series A from $95.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Finally, Benchmark restated a “buy” rating and issued a $102.00 price objective on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Liberty Media Corporation – Liberty Formula One Series A Price Performance

Shares of FWONA opened at $93.70 on Thursday. The company has a market cap of $23.37 billion, a P/E ratio of 91.86 and a beta of 0.53. The stock has a fifty day moving average price of $91.65 and a 200 day moving average price of $88.01. Liberty Media Corporation – Liberty Formula One Series A has a 12 month low of $68.00 and a 12 month high of $99.52.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $1.00. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. As a group, research analysts anticipate that Liberty Media Corporation – Liberty Formula One Series A will post 1.46 earnings per share for the current year.

Insider Activity

In other news, Director Malcolm Ian Grant Gilchrist sold 898 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $100.20, for a total transaction of $89,979.60. Following the sale, the director directly owned 1,781 shares of the company’s stock, valued at $178,456.20. The trade was a 33.52% 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. Insiders sold 5,651 shares of company stock worth $572,250 over the last quarter. 2.97% of the stock is owned by insiders.

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

A number of institutional investors and hedge funds have recently modified their holdings of FWONA. Janney Montgomery Scott LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 74.0% during the first quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company’s stock worth $1,497,000 after purchasing an additional 7,811 shares during the period. Bank of New York Mellon Corp raised its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 59,343 shares of the company’s stock worth $4,835,000 after purchasing an additional 1,300 shares during the period. S&CO Inc. raised its position in Liberty Media Corporation – Liberty Formula One Series A by 1.0% during the first quarter. S&CO Inc. now owns 67,554 shares of the company’s stock valued at $5,503,000 after buying an additional 660 shares during the period. Russell Investments Group Ltd. raised its position in Liberty Media Corporation – Liberty Formula One Series A by 28.9% during the first quarter. Russell Investments Group Ltd. now owns 853 shares of the company’s stock valued at $69,000 after buying an additional 191 shares during the period. Finally, Quantbot Technologies LP raised its position in Liberty Media Corporation – Liberty Formula One Series A by 61.6% during the first quarter. Quantbot Technologies LP now owns 2,404 shares of the company’s stock valued at $196,000 after buying an additional 916 shares during the period. 8.38% of the stock is owned by institutional investors and hedge funds.

About Liberty Media Corporation – Liberty Formula One Series A

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.