Analysts Set Formula One Group (NASDAQ:FWONK) PT at $98.00

Shares of Formula One Group (NASDAQ:FWONKGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $98.00.

FWONK has been the subject of several recent research reports. StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on Formula One Group from $93.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Morgan Stanley upgraded Formula One Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $95.00 to $115.00 in a report on Wednesday, December 18th. Finally, UBS Group started coverage on shares of Formula One Group in a report on Thursday, October 17th. They issued a “neutral” rating and a $85.00 price target for the company.

View Our Latest Report on Formula One Group

Formula One Group Stock Performance

NASDAQ:FWONK opened at $92.84 on Friday. The stock has a fifty day moving average price of $91.27 and a 200-day moving average price of $82.87. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 80.73 and a beta of 0.11. Formula One Group has a fifty-two week low of $64.37 and a fifty-two week high of $96.89.

Formula One Group (NASDAQ:FWONKGet Free Report) last announced its quarterly earnings results 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 company had revenue of $848.00 million for the quarter, compared to the consensus estimate of $837.59 million. Research analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

Insider Activity

In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction dated 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 in the company, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian J. Wendling sold 1,094 shares of Formula One Group stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The disclosure for this sale can be found here. 4.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Formula One Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Greenwood Gearhart Inc. boosted its stake in shares of Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock valued at $13,640,000 after purchasing an additional 13,146 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Formula One Group during the fourth quarter valued at approximately $827,000. Janney Montgomery Scott LLC grew its holdings in shares of Formula One Group by 16.9% in the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock worth $2,117,000 after purchasing an additional 3,958 shares during the last quarter. Lountzis Asset Management LLC increased its stake in shares of Formula One Group by 17.0% in the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock worth $461,000 after buying an additional 864 shares during the period. Finally, 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 worth $538,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

Formula One Group Company Profile

(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.

Read More

Analyst Recommendations for Formula One Group (NASDAQ:FWONK)

Receive News & Ratings for Formula One Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Formula One Group and related companies with MarketBeat.com's FREE daily email newsletter.