Formula One Group (NASDAQ:FWONA) Hits New 1-Year High - Time to Buy?

Formula One Group (NASDAQ:FWONA - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $75.50 and last traded at $75.34, with a volume of 7560 shares trading hands. The stock had previously closed at $74.45.

Analyst Ratings Changes

Separately, Benchmark lifted their price target on Formula One Group from $77.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, August 9th.

Formula One Group Stock Performance

The business has a 50 day moving average price of $71.35 and a 200-day moving average price of $68.10. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 54.91 and a beta of 0.09.

Formula One Group (NASDAQ:FWONA - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.24). The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $1.04 billion. As a group, equities analysts predict that Formula One Group will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrea L. Wong sold 1,604 shares of the business's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the sale, the director now directly owns 5,274 shares of the company's stock, valued at $250,040.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Formula One Group news, insider Renee L. Wilm sold 19,202 shares of Formula One Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $78.78, for a total transaction of $1,512,733.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrea L. Wong sold 1,604 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the sale, the director now owns 5,274 shares of the company's stock, valued at approximately $250,040.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,817 shares of company stock worth $2,327,591 in the last ninety days. Corporate insiders own 4.83% of the company's stock.

Institutional Trading of Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC grew its stake in shares of Formula One Group (NASDAQ:FWONA - Free Report) by 13.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,413 shares of the company's stock after acquiring an additional 1,600 shares during the period. Janney Montgomery Scott LLC's holdings in Formula One Group were worth $788,000 at the end of the most recent reporting period. 8.38% of the stock is owned by institutional investors and hedge funds.

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.