Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Raised to Strong-Buy at Zacks Research

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on FWONA. Benchmark reiterated a “buy” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Monday, December 29th. Finally, Sanford C. Bernstein upgraded 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. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series A presently has a consensus rating of “Buy” and a consensus target price of $108.00.

Liberty Media Corporation – Liberty Formula One Series A Stock Down 1.4%

Shares of NASDAQ:FWONA opened at $77.56 on Wednesday. Liberty Media Corporation – Liberty Formula One Series A has a fifty-two week low of $68.00 and a fifty-two week high of $99.52. The firm’s 50-day simple moving average is $82.04 and its 200-day simple moving average is $87.51. The company has a market cap of $19.39 billion, a price-to-earnings ratio of 35.25 and a beta of 0.50.

Insider Buying and Selling at Liberty Media Corporation – Liberty Formula One Series A

In other news, Director Chase Carey sold 83,536 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20. Following the sale, the director directly owned 94,356 shares in the company, valued at $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FWONA. TD Waterhouse Canada Inc. lifted its holdings in Liberty Media Corporation – Liberty Formula One Series A by 100.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Liberty Media Corporation – Liberty Formula One Series A by 1,304.3% in the third quarter. TD Private Client Wealth LLC now owns 323 shares of the company’s stock valued at $31,000 after buying an additional 300 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 55.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 352 shares of the company’s stock valued at $34,000 after buying an additional 125 shares during the period. Assetmark Inc. boosted its position in Liberty Media Corporation – Liberty Formula One Series A by 196.2% during the second quarter. Assetmark Inc. now owns 391 shares of the company’s stock worth $37,000 after acquiring an additional 259 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Liberty Media Corporation – Liberty Formula One Series A by 311.8% in the 4th quarter. Global Retirement Partners LLC now owns 490 shares of the company’s stock worth $44,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.