BlackRock Inc. Decreases Position in Liberty Media Formula One Series A (FWONA)

BlackRock Inc. trimmed its holdings in shares of Liberty Media Formula One Series A (NASDAQ:FWONA) by 18.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,034,320 shares of the company’s stock after selling 232,058 shares during the period. BlackRock Inc.’s holdings in Liberty Media Formula One Series A were worth $36,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FWONA. Northern Trust Corp boosted its position in Liberty Media Formula One Series A by 4.4% during the 1st quarter. Northern Trust Corp now owns 184,559 shares of the company’s stock worth $5,405,000 after purchasing an additional 7,756 shares during the period. Verition Fund Management LLC purchased a new stake in Liberty Media Formula One Series A during the 1st quarter worth $457,000. Legal & General Group Plc lifted its holdings in Liberty Media Formula One Series A by 108.3% in the 1st quarter. Legal & General Group Plc now owns 6,635 shares of the company’s stock worth $194,000 after buying an additional 3,449 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Liberty Media Formula One Series A by 4.6% in the 2nd quarter. Alps Advisors Inc. now owns 124,425 shares of the company’s stock worth $4,393,000 after buying an additional 5,475 shares in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new position in Liberty Media Formula One Series A in the 2nd quarter worth $232,000. 10.15% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Liberty Media Formula One Series A from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Macquarie reiterated a “buy” rating and issued a $39.00 price objective on shares of Liberty Media Formula One Series A in a report on Sunday, August 12th. ValuEngine lowered shares of Liberty Media Formula One Series A from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Citigroup boosted their price objective on shares of Liberty Media Formula One Series A from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Finally, Goldman Sachs Group assumed coverage on shares of Liberty Media Formula One Series A in a report on Tuesday, October 9th. They issued a “hold” rating and a $39.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $38.40.

Shares of Liberty Media Formula One Series A stock opened at $32.11 on Friday. The stock has a market capitalization of $8.22 billion, a PE ratio of 26.52 and a beta of 1.30. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.59. Liberty Media Formula One Series A has a 1 year low of $27.22 and a 1 year high of $39.37.

Liberty Media Formula One Series A (NASDAQ:FWONA) last issued its earnings results on Wednesday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.53). The company had revenue of $585.00 million during the quarter, compared to analyst estimates of $642.00 million. Liberty Media Formula One Series A had a net margin of 20.90% and a return on equity of 1.66%. Sell-side analysts forecast that Liberty Media Formula One Series A will post -0.41 earnings per share for the current year.

In other news, insider Albert E. Rosenthaler sold 54,781 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $36.71, for a total value of $2,011,010.51. Following the sale, the insider now owns 24,972 shares in the company, valued at approximately $916,722.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.68% 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.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Liberty Media Formula One Series A (NASDAQ:FWONA)

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