Everence Capital Management Inc. Purchases Shares of 8,920 Formula One Group (NASDAQ:FWONK)

Everence Capital Management Inc. acquired a new position in shares of Formula One Group (NASDAQ:FWONK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,920 shares of the company's stock, valued at approximately $827,000.

Other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC boosted its position in shares of Formula One Group by 3.0% in the third quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock valued at $538,000 after acquiring an additional 203 shares during the period. Lountzis Asset Management LLC boosted its holdings in Formula One Group by 17.0% in the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company's stock valued at $461,000 after purchasing an additional 864 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock worth $2,117,000 after purchasing an additional 3,958 shares in the last quarter. Greenwood Gearhart Inc. increased its holdings in shares of Formula One Group by 8.1% during the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock worth $13,640,000 after purchasing an additional 13,146 shares during the period. Finally, Hahn Capital Management LLC increased its holdings in shares of Formula One Group by 33.5% during the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company's stock worth $4,929,000 after purchasing an additional 17,219 shares during the period. Institutional investors own 92.26% of the company's stock.

Formula One Group Stock Performance

Shares of NASDAQ:FWONK traded down $0.03 during mid-day trading on Friday, reaching $92.08. 806,237 shares of the company's stock were exchanged, compared to its average volume of 866,469. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 80.07 and a beta of 0.11. Formula One Group has a twelve month low of $61.44 and a twelve month high of $96.89. The business's fifty day moving average price is $88.17 and its 200-day moving average price is $80.79.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.18. The company had revenue of $848.00 million during the quarter, compared to the consensus estimate of $837.59 million. Analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Formula One Group news, CAO Brian J. Wendling sold 1,094 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total value of $76,109.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory B. Maffei sold 35,463 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the sale, the chief executive officer now directly owns 1,240,785 shares of the company's stock, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. 4.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FWONK shares. Rosenblatt Securities increased their price objective on shares of Formula One Group from $91.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. StockNews.com lowered shares of Formula One Group from a "hold" rating to a "sell" rating in a research report on Monday, November 18th. Seaport Res Ptn downgraded shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. UBS Group assumed coverage on Formula One Group in a report on Thursday, October 17th. They issued a "neutral" rating and a $85.00 target price on the stock. Finally, Morgan Stanley upgraded Formula One Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $95.00 to $115.00 in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Formula One Group presently has an average rating of "Hold" and an average price target of $95.75.

About Formula One Group

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One 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.