Formula One Group (NASDAQ:FWONA) Receives Consensus Rating of “Hold” from Brokerages

Formula One Group (NASDAQ:FWONA) has earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $82.33.

FWONA has been the topic of several recent analyst reports. Guggenheim reiterated a “buy” rating on shares of Formula One Group in a report on Monday, March 3rd. Benchmark reiterated a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a research note on Thursday, November 14th. Wells Fargo & Company assumed coverage on shares of Formula One Group in a research note on Monday, February 24th. They set an “underweight” rating and a $83.00 target price for the company. Finally, Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th.

Formula One Group Price Performance

Shares of NASDAQ:FWONA traded down $3.48 during trading on Monday, hitting $78.80. The company had a trading volume of 82,634 shares, compared to its average volume of 109,930. The stock has a market cap of $19.64 billion, a price-to-earnings ratio of 68.38 and a beta of 0.15. The company has a fifty day simple moving average of $86.96 and a two-hundred day simple moving average of $79.58. Formula One Group has a one year low of $57.43 and a one year high of $95.33.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of $0.43 by ($1.46). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.37 billion. On average, equities research analysts anticipate that Formula One Group will post 1.46 earnings per share for the current year.

Insider Activity at Formula One Group

In related news, CEO Gregory B. Maffei sold 35,463 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the sale, the chief executive officer now owns 1,240,785 shares of the company’s stock, 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. 4.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Formula One Group

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Formula One Group by 67.2% during the fourth quarter. Russell Investments Group Ltd. now owns 662 shares of the company’s stock worth $56,000 after acquiring an additional 266 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Formula One Group by 25.6% in the 4th quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock worth $65,000 after purchasing an additional 159 shares in the last quarter. Lountzis Asset Management LLC purchased a new stake in Formula One Group during the 3rd quarter worth approximately $220,000. Finally, Integrated Wealth Concepts LLC increased its stake in Formula One Group by 4.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock valued at $534,000 after purchasing an additional 300 shares in the last quarter. 8.38% of the stock is owned by hedge funds and other institutional investors.

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.