Shares of Formula One Group (NASDAQ:FWONK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $98.00.
FWONK has been the topic of several recent research reports. Seaport Res Ptn downgraded Formula One Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 4th. StockNews.com downgraded Formula One Group from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. Rosenblatt Securities lifted their price target on Formula One Group from $93.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Morgan Stanley raised 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.
Read Our Latest Research Report on FWONK
Formula One Group Stock Performance
FWONK stock traded down $1.01 during midday trading on Tuesday, hitting $96.84. 1,530,620 shares of the company's stock were exchanged, compared to its average volume of 1,053,124. The stock's fifty day moving average price is $94.71 and its 200-day moving average price is $85.28. The company has a market cap of $24.09 billion, a PE ratio of 84.21 and a beta of 0.11. Formula One Group has a one year low of $64.37 and a one year high of $102.33.
Insider Activity at Formula One Group
In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the business'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 transaction, the chief executive officer now owns 1,240,785 shares of the company's stock, valued at $88,753,351.05. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.31% of the stock is owned by company insiders.
Hedge Funds Weigh In On Formula One Group
Institutional investors have recently bought and sold shares of the business. Everence Capital Management Inc. acquired a new position in Formula One Group during the fourth quarter worth approximately $827,000. Greenwood Gearhart Inc. increased its position in 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 buying an additional 13,146 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Formula One Group by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after buying an additional 287 shares during the last quarter. MetLife Investment Management LLC increased its position in Formula One Group by 3.0% during the third quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock worth $538,000 after buying an additional 203 shares during the last quarter. Finally, Lountzis Asset Management LLC increased its position in Formula One Group by 17.0% during the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company's stock worth $461,000 after buying an additional 864 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.
About Formula One Group
(
Get Free ReportFormula 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.
Further Reading
Before you consider Formula One Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Formula One Group wasn't on the list.
While Formula One Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
