Formula One Group (NASDAQ:FWONK - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $92.47 and traded as high as $96.64. Formula One Group shares last traded at $95.70, with a volume of 920,450 shares traded.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. UBS Group initiated coverage on Formula One Group in a research note on Thursday, October 17th. They issued a "neutral" rating and a $85.00 price objective for the company. Rosenblatt Securities lifted their price target on Formula One Group from $93.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Morgan Stanley raised shares of Formula One Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $95.00 to $115.00 in a research note on Wednesday, December 18th. StockNews.com cut shares of Formula One Group from a "hold" rating to a "sell" rating in a research report on Monday, November 18th. Finally, 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. One research 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. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $98.00.
Get Our Latest Stock Report on Formula One Group
Formula One Group Trading Down 0.5 %
The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 82.80 and a beta of 0.11. The firm's 50 day moving average is $92.78 and its two-hundred day moving average is $83.73.
Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.18. The firm had revenue of $848.00 million for the quarter, compared to analysts' expectations of $837.59 million. As a group, equities analysts expect that Formula One Group will post 1.36 EPS for the current fiscal year.
Insider Transactions at Formula One Group
In other 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory B. Maffei sold 35,463 shares of Formula One Group 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 completion of 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 position. The disclosure for this sale can be found here.
Hedge Funds Weigh In On Formula One Group
A number of large investors have recently modified their holdings of the company. Lountzis Asset Management LLC boosted its position in Formula One Group by 17.0% during 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 period. MetLife Investment Management LLC grew 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 valued at $538,000 after buying an additional 203 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Formula One Group during the 4th quarter valued at about $827,000. Janney Montgomery Scott LLC lifted its position 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 worth $2,117,000 after acquiring an additional 3,958 shares in the last quarter. Finally, Greenwood Gearhart Inc. boosted its holdings in Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock worth $13,640,000 after acquiring an additional 13,146 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.
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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