Seaport Res Ptn Upgrades Formula One Group (NASDAQ:FWONK) to "Strong-Buy"

Formula One Group (NASDAQ:FWONK - Get Free Report) was upgraded by Seaport Res Ptn from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday,Zacks.com reports. Seaport Res Ptn also issued estimates for Formula One Group's Q1 2026 earnings at ($0.15) EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.41 EPS and Q4 2026 earnings at ($0.08) EPS.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their target price on Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research note on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $102.00 price target on shares of Formula One Group in a research report on Friday, March 7th. Morgan Stanley cut their price objective on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. StockNews.com cut Formula One Group from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their price target on Formula One Group from $96.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Formula One Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.33.

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Formula One Group Price Performance

FWONK traded down $1.19 during trading on Friday, reaching $85.88. The company had a trading volume of 1,792,781 shares, compared to its average volume of 1,171,815. Formula One Group has a 12 month low of $64.37 and a 12 month high of $102.33. The business's fifty day moving average price is $93.22 and its 200 day moving average price is $87.19. The company has a market cap of $21.41 billion, a P/E ratio of 74.68 and a beta of 0.13.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of $0.42 by ($1.45). The business had revenue of $20.71 billion for the quarter, compared to analysts' expectations of $1.37 billion. As a group, sell-side analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Formula One Group

A number of institutional investors have recently added to or reduced their stakes in FWONK. Hahn Capital Management LLC raised its stake in shares of Formula One Group by 47.7% in the fourth quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock worth $6,226,000 after buying an additional 21,699 shares during the period. Greenwood Gearhart Inc. boosted its holdings in Formula One Group by 8.1% during 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. Everence Capital Management Inc. bought a new stake in Formula One Group during the 4th quarter valued at $827,000. California State Teachers Retirement System raised its position in Formula One Group by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock valued at $32,518,000 after purchasing an additional 6,297 shares in the last quarter. Finally, Allstate Corp bought a new position in shares of Formula One Group in the 4th quarter worth $571,000. Institutional investors own 92.26% of the company's stock.

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.