Greenwood Gearhart Inc. Buys 13,146 Shares of Formula One Group (NASDAQ:FWONK)

Greenwood Gearhart Inc. boosted its holdings in shares of Formula One Group (NASDAQ:FWONK - Free Report) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,160 shares of the company's stock after acquiring an additional 13,146 shares during the period. Greenwood Gearhart Inc. owned 0.08% of Formula One Group worth $13,640,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Lountzis Asset Management LLC raised its position 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 worth $461,000 after purchasing an additional 864 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of 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. Janney Montgomery Scott LLC grew its holdings in shares of Formula One Group by 16.9% during the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company's stock valued at $2,117,000 after buying an additional 3,958 shares during the last quarter. Finally, Hahn Capital Management LLC increased 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 valued at $4,929,000 after acquiring an additional 17,219 shares in the last quarter. Institutional investors own 92.26% of the company's stock.

Insiders Place Their Bets

In related news, CAO Brian J. Wendling sold 1,094 shares of Formula One Group stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Renee L. Wilm sold 19,202 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The disclosure for this sale can be found here. Insiders sold a total of 31,911 shares of company stock valued at $2,403,701 over the last 90 days.

Formula One Group Price Performance

Shares of NASDAQ FWONK traded down $0.66 during mid-day trading on Tuesday, reaching $90.48. The company's stock had a trading volume of 590,948 shares, compared to its average volume of 1,169,123. Formula One Group has a 52 week low of $61.44 and a 52 week high of $94.84. The stock has a fifty day moving average of $82.22 and a two-hundred day moving average of $78.02. The firm has a market capitalization of $20.11 billion, a PE ratio of 79.25 and a beta of 0.17.

Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Analysts anticipate that Formula One Group will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FWONK has been the topic of several recent analyst reports. Rosenblatt Securities increased their price objective on Formula One Group from $91.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Morgan Stanley raised their price target on shares of Formula One Group from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, September 23rd. Seaport Res Ptn cut shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 4th. StockNews.com cut shares of Formula One Group from a "hold" rating to a "sell" rating in a report on Monday, November 18th. Finally, UBS Group began coverage on shares of Formula One Group in a research report on Thursday, October 17th. They issued a "neutral" rating and a $85.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Formula One Group presently has an average rating of "Hold" and an average target price of $88.25.

Formula One Group Company Profile

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.