Seaport Res Ptn upgraded shares of Formula One Group (NASDAQ:FWONA - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday, March 15th,Zacks.com reports. Seaport Res Ptn also issued estimates for Formula One Group's Q1 2026 earnings at ($0.15) EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.41 EPS and Q4 2026 earnings at ($0.04) EPS.
A number of other analysts have also issued reports on the company. Guggenheim reissued a "buy" rating on shares of Formula One Group in a research report on Monday, March 3rd. Wells Fargo & Company began coverage on Formula One Group in a report on Monday, February 24th. They set an "underweight" rating and a $83.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $82.33.
Get Our Latest Stock Analysis on FWONA
Formula One Group Price Performance
Shares of FWONA traded down $1.40 during mid-day trading on Friday, reaching $78.68. 200,111 shares of the company's stock traded hands, compared to its average volume of 106,753. The stock has a market cap of $19.61 billion, a P/E ratio of 68.42 and a beta of 0.15. The stock's 50-day moving average is $85.81 and its two-hundred day moving average is $80.03. Formula One Group has a 12 month low of $57.43 and a 12 month high of $95.33.
Formula One Group (NASDAQ:FWONA - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($1.46). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.37 billion. Research analysts predict that Formula One Group will post 1.46 earnings per share for the current year.
Hedge Funds Weigh In On Formula One Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC grew its position in shares of Formula One Group by 25.6% during the 4th quarter. FNY Investment Advisers LLC now owns 779 shares of the company's stock valued at $65,000 after buying an additional 159 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Formula One Group by 67.2% during the fourth quarter. Russell Investments Group Ltd. now owns 662 shares of the company's stock valued at $56,000 after acquiring an additional 266 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Formula One Group by 4.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company's stock valued at $534,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 8.38% of the company's stock.
About Formula One Group
(
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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.
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