Liberty Media Formula One Series A (NASDAQ:FWONA) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Liberty Media Formula One Series A (NASDAQ:FWONA) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,260 shares of the company’s stock after selling 1,701 shares during the period. Bank of New York Mellon Corp’s holdings in Liberty Media Formula One Series A were worth $2,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FWONA. The Manufacturers Life Insurance Company lifted its stake in shares of Liberty Media Formula One Series A by 0.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 755,492 shares of the company’s stock worth $25,717,000 after acquiring an additional 2,109 shares during the period. Williams Jones & Associates LLC acquired a new stake in shares of Liberty Media Formula One Series A in the first quarter valued at about $250,000. Pecaut & CO. lifted its stake in shares of Liberty Media Formula One Series A by 1.1% in the first quarter. Pecaut & CO. now owns 100,807 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,100 shares during the period. Laurel Wealth Advisors Inc. acquired a new stake in shares of Liberty Media Formula One Series A in the first quarter valued at about $223,000. Finally, Ingalls & Snyder LLC lifted its stake in shares of Liberty Media Formula One Series A by 3.4% in the second quarter. Ingalls & Snyder LLC now owns 18,506 shares of the company’s stock valued at $664,000 after purchasing an additional 600 shares during the period. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently commented on the stock. Citigroup raised their price objective on shares of Liberty Media Formula One Series A from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. upgraded shares of Liberty Media Formula One Series A from a “neutral” rating to an “overweight” rating and raised their target price for the company from $38.00 to $50.00 in a report on Thursday, August 15th. FBN Securities downgraded shares of Liberty Media Formula One Series A from an “outperform” rating to a “sector perform” rating in a report on Wednesday, September 18th. Finally, Benchmark initiated coverage on shares of Liberty Media Formula One Series A in a report on Wednesday. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $44.67.

Liberty Media Formula One Series A stock traded up $0.47 during trading on Friday, reaching $39.37. The company had a trading volume of 38,500 shares, compared to its average volume of 78,879. Liberty Media Formula One Series A has a 12-month low of $26.63 and a 12-month high of $40.81. The stock’s 50 day moving average price is $39.37 and its two-hundred day moving average price is $37.34. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of -60.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.49 and a current ratio of 0.49.

Liberty Media Formula One Series A (NASDAQ:FWONA) last released its earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share (EPS) for the quarter. Liberty Media Formula One Series A had a negative net margin of 18.41% and a negative return on equity of 1.64%. The company had revenue of $620.00 million during the quarter.

In other news, SVP Brian J. Wendling sold 14,533 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $38.47, for a total transaction of $559,084.51. Following the transaction, the senior vice president now directly owns 6,079 shares of the company’s stock, valued at $233,859.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Albert E. Rosenthaler sold 3,398 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $28.22, for a total transaction of $95,891.56. Following the transaction, the insider now directly owns 9,990 shares in the company, valued at $281,917.80. The disclosure for this sale can be found here.

Liberty Media Formula One Series A Company Profile

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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

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