Hahn Capital Management LLC raised its holdings in Formula One Group (NASDAQ:FWONK - Free Report) by 47.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,197 shares of the company's stock after purchasing an additional 21,699 shares during the quarter. Formula One Group accounts for about 2.7% of Hahn Capital Management LLC's holdings, making the stock its 20th biggest position. Hahn Capital Management LLC's holdings in Formula One Group were worth $6,226,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its stake in shares of Formula One Group by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after purchasing an additional 287 shares during the period. Everence Capital Management Inc. purchased a new stake in Formula One Group during the fourth quarter worth about $827,000. Greenwood Gearhart Inc. grew its position in Formula One Group by 8.1% during the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock worth $13,640,000 after buying an additional 13,146 shares during the period. MetLife Investment Management LLC increased its holdings in 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. Finally, Lountzis Asset Management LLC lifted its position in shares of Formula One Group by 17.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company's stock valued at $461,000 after acquiring an additional 864 shares during the period. Institutional investors and hedge funds own 92.26% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on FWONK. StockNews.com downgraded Formula One Group from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. Wells Fargo & Company cut their price target on Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research note on Friday. 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 restated a "buy" rating and set a $102.00 target price on shares of Formula One Group in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.40.
Check Out Our Latest Stock Report on FWONK
Formula One Group Stock Down 2.9 %
Shares of NASDAQ:FWONK traded down $2.77 during trading on Monday, reaching $93.66. The stock had a trading volume of 1,868,363 shares, compared to its average volume of 1,275,979. The stock has a market cap of $23.29 billion, a P/E ratio of 81.44 and a beta of 0.11. The business has a fifty day moving average price of $94.80 and a 200-day moving average price of $86.25. Formula One Group has a fifty-two week low of $64.37 and a fifty-two week high of $102.33.
Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($1.45). The business had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, equities analysts forecast that Formula One Group will post 1.36 EPS for the current year.
Insider Buying and Selling
In related news, CEO Gregory B. Maffei sold 35,463 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company's stock, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.31% of the stock is currently owned by company insiders.
About Formula One Group
(
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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