Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Sets New 12-Month High – Still a Buy?

Shares of Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) reached a new 52-week high during trading on Friday . The stock traded as high as $96.73 and last traded at $96.17, with a volume of 5116 shares traded. The stock had previously closed at $95.41.

Analysts Set New Price Targets

FWONA has been the topic of a number of research analyst reports. Zacks Research raised shares of Liberty Media Corporation – Liberty Formula One Series A from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 13th. Benchmark reiterated a “buy” rating and set a $102.00 price objective on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Thursday, June 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Saturday, September 27th. Finally, Guggenheim upped their target price on Liberty Media Corporation – Liberty Formula One Series A from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series A currently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

Liberty Media Corporation – Liberty Formula One Series A Trading Up 1.0%

The company has a market cap of $24.04 billion, a price-to-earnings ratio of 94.49 and a beta of 0.53. The company has a fifty day moving average price of $91.06 and a two-hundred day moving average price of $87.50.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.52 earnings per share 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. Sell-side analysts anticipate that Liberty Media Corporation – Liberty Formula One Series A will post 1.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Liberty Media Corporation – Liberty Formula One Series A news, Director Malcolm Ian Grant Gilchrist sold 3,885 shares of Liberty Media Corporation – Liberty Formula One Series A stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $102.44, for a total transaction of $397,979.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,651 shares of company stock worth $572,250 in the last three months. 2.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Formula One Series A

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its position in Liberty Media Corporation – Liberty Formula One Series A by 74.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company’s stock valued at $1,497,000 after acquiring an additional 7,811 shares during the period. Cooper Investors PTY Ltd. grew its stake in Liberty Media Corporation – Liberty Formula One Series A by 14.0% during the second quarter. Cooper Investors PTY Ltd. now owns 51,971 shares of the company’s stock worth $4,935,000 after buying an additional 6,389 shares during the last quarter. Longboard Asset Management LP acquired a new stake in shares of Liberty Media Corporation – Liberty Formula One Series A during the second quarter worth approximately $272,000. Strs Ohio bought a new position in shares of Liberty Media Corporation – Liberty Formula One Series A in the first quarter valued at approximately $2,232,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Liberty Media Corporation – Liberty Formula One Series A by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 59,343 shares of the company’s stock worth $4,835,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 8.38% of the company’s stock.

Liberty Media Corporation – Liberty Formula One Series A Company Profile

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.