Shares of Formula One Group (NASDAQ:FWONK - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $96.90 and last traded at $96.81, with a volume of 49411 shares trading hands. The stock had previously closed at $94.90.
Analyst Ratings Changes
Several research firms recently issued reports on FWONK. Seaport Res Ptn lowered shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. Morgan Stanley raised Formula One Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $95.00 to $115.00 in a report on Wednesday. StockNews.com cut Formula One Group from a "hold" rating to a "sell" rating in a report on Monday, November 18th. Rosenblatt Securities upped their price objective on Formula One Group from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, UBS Group started coverage on Formula One Group in a research report on Thursday, October 17th. They issued a "neutral" rating and a $85.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $95.75.
Read Our Latest Analysis on FWONK
Formula One Group Stock Performance
The firm's 50 day moving average price is $84.38 and its two-hundred day moving average price is $78.92. The company has a market cap of $20.58 billion, a P/E ratio of 80.51 and a beta of 0.18.
Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its 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 firm had revenue of $848.00 million during the quarter, compared to the consensus estimate of $837.59 million. As a group, analysts forecast that Formula One Group will post 1.36 EPS for the current fiscal year.
Insiders Place Their Bets
In other Formula One Group news, insider Renee L. Wilm sold 19,202 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $78.78, for a total value of $1,512,733.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian J. Wendling sold 1,094 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total value of $76,109.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,374 shares of company stock valued at $4,940,369. Corporate insiders own 4.31% of the company's stock.
Institutional Investors Weigh In On Formula One Group
Several large investors have recently modified their holdings of the stock. Greenwood Gearhart Inc. raised its stake in Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock valued at $13,640,000 after acquiring an additional 13,146 shares during the period. MetLife Investment Management LLC boosted its holdings in Formula One Group by 3.0% in the 3rd 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 period. Lountzis Asset Management LLC grew its stake 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 buying an additional 864 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock valued at $2,117,000 after acquiring an additional 3,958 shares during the period. Finally, Hahn Capital Management LLC lifted its position 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 acquiring an additional 17,219 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company's stock.
About Formula One Group
(
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.
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