28-Mar-2024
Formula One discussing €4B deal for MotoGP: FT
Seeking Alpha News (Wed, 27-Mar 1:00 PM ET)
Business Wire (Fri, 1-Mar 4:15 PM ET)
Liberty Media Corporation Reports Fourth Quarter and Year End 2023 Financial Results
Business Wire (Wed, 28-Feb 8:15 AM ET)
Liberty Media Corporation Announces Fourth Quarter Earnings Release and Conference Call
Business Wire (Fri, 19-Jan 8:15 AM ET)
Liberty Media Corporation Completes Acquisition of Quint
Business Wire (Wed, 3-Jan 4:15 PM ET)
Formula One Group controls the exclusive commercial and promotional rights to the FIA Formula One World Championship series, and the monetization of those rights is the primary business of the group. The firm is responsible for development and promotion of the Formula One race series in concert with its three partners: the FIA (the regulatory body), the teams that participate in the series, and the series' commercial partners, which include the race promoters, broadcasters, sponsors, and advertisers. The F1 schedule in 2023 will encompass 23 races held on five continents. Formula One Group is a subsidiary of Liberty Media, which purchased the firm in January 2017. Formula One stock is a tracking stock for the assets under Formula One Group with Liberty Media.
Liberty Formula One Group trades on the NASDAQ stock market under the symbol FWONA.
As of March 28, 2024, FWONA stock price declined to $58.74 with 76,656 million shares trading.
FWONA has a beta of 0.82, meaning it tends to be less sensitive to market movements. FWONA has a correlation of 0.13 to the broad based SPY ETF.
FWONA has a market cap of $13.77 billion. This is considered a Large Cap stock.
Last quarter Liberty Formula One Group reported $1 billion in Revenue and $.32 earnings per share. This fell short of revenue expectation by $-30 million and exceeded earnings estimates by $.05.
In the last 3 years, FWONA stock traded as high as $72.09 and as low as $37.24.
FWONA has underperformed the market in the last year with a price return of -13.8% while the SPY ETF gained +33.6%. FWONA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +1.5% and -6.1%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
FWONA support price is $58.66 and resistance is $60.74 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FWONA stock will trade within this expected range on the day.