Formula One Group (NASDAQ:FWONK - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $99.58 and last traded at $98.47, with a volume of 606040 shares trading hands. The stock had previously closed at $95.09.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on FWONK shares. Rosenblatt Securities upped their target price on Formula One Group from $93.00 to $102.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. UBS Group started coverage on shares of Formula One Group in a research note on Thursday, October 17th. They issued a "neutral" rating and a $85.00 price objective on the stock. Seaport Res Ptn cut Formula One Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. Morgan Stanley raised shares of Formula One Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $95.00 to $115.00 in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded Formula One Group from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $98.00.
Get Our Latest Report on FWONK
Formula One Group Stock Performance
The company has a market cap of $24.76 billion, a P/E ratio of 86.57 and a beta of 0.11. The firm has a 50 day moving average price of $93.37 and a two-hundred day moving average price of $84.13.
Formula One Group (NASDAQ:FWONK - Get Free Report) last issued 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 business had revenue of $848.00 million for the quarter, compared to the consensus estimate of $837.59 million. On average, sell-side analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.
Insiders Place Their Bets
In other Formula One Group news, CAO Brian J. Wendling sold 1,094 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $69.57, for a total value of $76,109.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory B. Maffei sold 35,463 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following the transaction, the chief executive officer now owns 1,240,785 shares in the company, valued at $88,753,351.05. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.31% of the company's stock.
Institutional Trading of Formula One Group
Institutional investors have recently bought and sold shares of the stock. Everence Capital Management Inc. purchased a new stake in shares of Formula One Group in the 4th quarter valued at $827,000. Greenwood Gearhart Inc. boosted its holdings in Formula One Group by 8.1% in the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock valued at $13,640,000 after purchasing an additional 13,146 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Formula One Group by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after purchasing an additional 287 shares during the period. MetLife Investment Management LLC raised its stake in shares of Formula One Group by 3.0% during the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock valued at $538,000 after buying an additional 203 shares during the last quarter. Finally, Lountzis Asset Management LLC lifted its holdings in shares of 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 buying an additional 864 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.
Formula One Group Company Profile
(
Get Free Report)
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.
Recommended Stories
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
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
