Formula One Group (NASDAQ:FWONK - Get Free Report) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $86.27 and traded as high as $95.56. Formula One Group shares last traded at $95.26, with a volume of 681,437 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on FWONK shares. StockNews.com lowered Formula One Group from a "hold" rating to a "sell" rating in a report on Monday, November 18th. Morgan Stanley upgraded shares of Formula One Group from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $95.00 to $115.00 in a report on Wednesday, December 18th. Seaport Res Ptn cut shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 4th. Rosenblatt Securities lifted their target price on shares of Formula One Group from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, UBS Group initiated coverage on shares of Formula One Group in a report on Thursday, October 17th. They issued a "neutral" rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Formula One Group presently has an average rating of "Hold" and a consensus price target of $95.75.
Get Our Latest Stock Report on Formula One Group
Formula One Group Stock Down 1.4 %
The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 81.67 and a beta of 0.18. The company has a 50 day simple moving average of $86.57 and a 200 day simple moving average of $79.87.
Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.18. The company had revenue of $848.00 million for the quarter, compared to the consensus estimate of $837.59 million. As a group, analysts predict that Formula One Group will post 1.36 earnings per share 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 stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer now owns 1,240,785 shares in the company, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.31% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in FWONK. MetLife Investment Management LLC lifted its position 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 acquiring an additional 203 shares during the period. Lountzis Asset Management LLC raised its holdings in shares of Formula One Group by 17.0% during the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company's stock valued at $461,000 after purchasing an additional 864 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock worth $2,117,000 after purchasing an additional 3,958 shares in the last quarter. Greenwood Gearhart Inc. boosted its position in shares of Formula One Group by 8.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock worth $13,640,000 after purchasing an additional 13,146 shares in the last quarter. Finally, Hahn Capital Management LLC grew its stake in shares of Formula One Group by 33.5% in the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company's stock valued at $4,929,000 after buying an additional 17,219 shares during the period. 92.26% of the stock is owned by institutional investors and hedge funds.
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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