Liberty Media Corporation Closed Offering of Series C Liberty Formula One Common Stock
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 26 2024
0mins
Should l Buy FWONA?
Source: Businesswire
Public Offering Announcement: Liberty Media Corporation successfully closed a public offering of its Series C Liberty Formula One Common Stock (FWONK) at $77.50 per share, raising approximately $949 million in gross proceeds after the underwriter exercised its option for additional shares.
Company Overview: Liberty Media operates various media and entertainment businesses, categorized into three tracking stock groups: Liberty SiriusXM Group, Formula One Group, and Liberty Live Group, which include interests in companies like SiriusXM, Formula 1, and Live Nation.
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Analyst Views on FWONA
Wall Street analysts forecast FWONA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FWONA is 108.33 USD with a low forecast of 107.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 79.740
Low
107.00
Averages
108.33
High
110.00
Current: 79.740
Low
107.00
Averages
108.33
High
110.00
About FWONA
Formula One Group (Formula One) is a tracking stock of Liberty Media Corporation (Liberty Media), which is based in the United States. Formula One consists of Liberty Media's interest in Formula 1 and Quint and other minority investments. The Series A and Series C Liberty Formula One common stock trade on the Nasdaq Global Select Market under the stock symbols FWONA and FWONK, respectively. The Series B Liberty Formula One common stock is quoted on the OTC Markets under the symbol FWONB.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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