Formula One Group (NASDAQ:FWONK - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $101.80 and last traded at $100.98, with a volume of 185447 shares trading hands. The stock had previously closed at $100.07.
Analyst Ratings Changes
Several equities research analysts recently weighed in on FWONK shares. 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 report on Friday, January 10th. 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 report on Wednesday, December 18th. StockNews.com lowered Formula One Group from a "hold" rating to a "sell" rating in a research report on Monday, November 18th. Finally, Seaport Res Ptn lowered Formula One Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.00.
Get Our Latest Stock Analysis on FWONK
Formula One Group Price Performance
The company has a 50 day moving average price of $94.27 and a two-hundred day moving average price of $84.82. The stock has a market cap of $24.50 billion, a PE ratio of 85.65 and a beta of 0.11.
Insider Transactions at Formula One Group
In related news, CAO Brian J. Wendling sold 1,094 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total transaction of $76,109.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory B. Maffei sold 35,463 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $71.53, for a total value of $2,536,668.39. Following the sale, the chief executive officer now 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. Company insiders own 4.31% of the company's stock.
Institutional Trading of Formula One Group
Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in Formula One Group by 16.9% in the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock worth $2,117,000 after buying an additional 3,958 shares in the last quarter. Lountzis Asset Management LLC increased its position in Formula One Group by 17.0% in 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 in the last quarter. MetLife Investment Management LLC increased its position in Formula One Group by 3.0% in 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 in the last quarter. Greenwood Gearhart Inc. increased its position in Formula One Group by 8.1% in 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 in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Formula One Group in the fourth quarter worth about $827,000. Hedge funds and other institutional investors own 92.26% of the company's stock.
Formula One Group Company Profile
(
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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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