Streetbeat News

FWONK

Formula One Group

https://www.libertymedia.com/companies/formula-one-group.html

Industry

Entertainment

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company was founded in 1950 and is based in Englewood, Colorado. Formula One Group is a subsidiary of Liberty Media Corporation.

Open

84.00

Mkt cap

26B

Volume

1.4M

High

84.35

P/E Ratio

70.97

52-wk high

86.66

Low

81.55

Div yield

N/A

52-wk low

61.23

Liberty Media Corporation - Liberty Formula One Series C (FWONK) reported Q3 earnings of $0.48 per share, surpassing the Zacks Consensus Estimate of $0.30 per share. This marks an improvement from $0.39 per share a year ago.

Portfolio Pulse from

November 12, 2024 | 8:45 pm

Sirius XM Holdings Inc reported a Q3 revenue decline of 4% to $2.17 billion, missing estimates. Adjusted EPS beat expectations. The company faced a $3.36 billion impairment charge related to Liberty Media, resulting in a net loss of $2.96 billion. Sirius XM revised its annual revenue outlook slightly downwards.

Portfolio Pulse from Anusuya Lahiri

October 31, 2024 | 6:02 pm

American Express has announced a new multi-year global sponsorship with Formula 1, expanding its presence from five races in the Americas to over 20 races worldwide. This partnership will enhance access and experiences for American Express Card Members globally.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 12:13 pm

LVMH, led by Bernard Arnault, has secured a 10-year sponsorship deal with Formula One, following its significant presence at the Paris Olympics. This move highlights LVMH's strategy to leverage global sports events for brand visibility.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:01 pm

Ryan Reynolds' marketing company, Maximum Effort Marketing, co-founded with George Dewey and owned by MNTN, plans a 2025 IPO. MNTN, a connected TV advertising company, raised $119 million in 2021 with BlackRock and Fidelity Management leading the round. Reynolds' involvement and the company's viral marketing success could drive growth.

Portfolio Pulse from Chris Katje

September 30, 2024 | 4:42 pm

Morgan Stanley analyst Benjamin Swinburne maintains an Equal-Weight rating on Liberty Formula One Group (NASDAQ:FWONK) and raises the price target from $80 to $85.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 5:00 pm

Liberty Media and Sirius XM have announced the final exchange ratio for their split-off, where Liberty SiriusXM shareholders will receive 0.8375 shares of new Sirius stock per share. This will be followed by a merger creating a new public company trading under the symbol 'SIRI'.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 12:20 pm

Formula 1 is planning to host a lender presentation for a proposed $850 million Term Loan B on September 3, 2024. Liberty Media Corporation disclosed that Formula 1's operating business cash and equivalents are approximately $1.457 billion as of August 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 1:10 pm

Liberty Formula One Gr (NYSE:FWONK) has seen a 15.79% increase in its short percent of float, now at 2.42% of available shares. This indicates a rise in bearish sentiment, although it remains below the peer group average of 6.76%.

Portfolio Pulse from Benzinga Insights

August 26, 2024 | 1:45 pm

Liberty Media shareholders have approved a redemptive split-off of Liberty SiriusXM Holdings. The new Sirius will merge with Sirius XM Holdings to form a new public company under the Sirius XM name.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:48 pm

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