Zacks Investment Research Upgrades Liberty Media Formula One Series A (FWONA) to Hold

Zacks Investment Research upgraded shares of Liberty Media Formula One Series A (NASDAQ:FWONA) from a sell rating to a hold rating in a report released on Thursday.

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. “

FWONA has been the topic of a number of other research reports. ValuEngine upgraded Liberty Media Formula One Series A from a strong sell rating to a sell rating in a research report on Monday, September 17th. Goldman Sachs Group began coverage on Liberty Media Formula One Series A in a research report on Tuesday, October 9th. They set a hold rating and a $39.00 price objective on the stock. Finally, Pivotal Research reiterated a buy rating and set a $49.00 price objective on shares of Liberty Media Formula One Series A in a research report on Monday, November 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $41.00.

Shares of FWONA opened at $31.02 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.60. Liberty Media Formula One Series A has a 12 month low of $26.63 and a 12 month high of $37.32. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 25.64 and a beta of 1.10.

Liberty Media Formula One Series A (NASDAQ:FWONA) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $690.00 million. Liberty Media Formula One Series A had a return on equity of 2.00% and a net margin of 23.43%. Research analysts anticipate that Liberty Media Formula One Series A will post -0.38 earnings per share for the current year.

In other news, major shareholder Gamco Investors, Inc. Et Al purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were acquired at an average price of $25.89 per share, for a total transaction of $207,120.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory B. Maffei bought 3,500 shares of the stock in a transaction on Monday, December 3rd. The shares were bought at an average price of $30.29 per share, for a total transaction of $106,015.00. Following the acquisition, the chief executive officer now owns 380,219 shares in the company, valued at approximately $11,516,833.51. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 18,900 shares of company stock valued at $495,331. 4.68% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Markel Corp boosted its holdings in shares of Liberty Media Formula One Series A by 4.6% during the third quarter. Markel Corp now owns 229,500 shares of the company’s stock worth $8,166,000 after purchasing an additional 10,000 shares during the last quarter. Laurel Wealth Advisors Inc. purchased a new position in shares of Liberty Media Formula One Series A in the 2nd quarter worth $231,000. Blair William & Co. IL raised its position in shares of Liberty Media Formula One Series A by 78.4% in the 3rd quarter. Blair William & Co. IL now owns 6,828 shares of the company’s stock worth $243,000 after buying an additional 3,000 shares during the period. First Foundation Advisors raised its position in shares of Liberty Media Formula One Series A by 7.4% in the 3rd quarter. First Foundation Advisors now owns 149,220 shares of the company’s stock worth $5,310,000 after buying an additional 10,278 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Liberty Media Formula One Series A in the 3rd quarter worth $1,056,000. Hedge funds and other institutional investors own 10.09% of the company’s stock.

About Liberty Media Formula One Series A

Formula One Group, through its subsidiaries, engages in the media and entertainment businesses in North America. Formula One Group was formerly known as The Liberty Media Group. The company is based in Englewood, Colorado. Formula One Group is a former subsidiary of Liberty Media Corporation.

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