Stock analysts at UBS Group initiated coverage on shares of Formula One Group (NASDAQ:FWONK - Get Free Report) in a report issued on Thursday, Briefing.com reports. The firm set a "neutral" rating and a $85.00 price target on the stock. UBS Group's price target suggests a potential upside of 6.66% from the stock's current price.
FWONK has been the subject of a number of other reports. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a research report on Saturday, October 12th. Morgan Stanley boosted their target price on shares of Formula One Group from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, September 23rd.
Get Our Latest Analysis on FWONK
Shares of FWONK opened at $79.69 on Thursday. The firm has a market capitalization of $18.73 billion, a PE ratio of 58.17 and a beta of 0.04. Formula One Group has a 1-year low of $61.23 and a 1-year high of $82.23. The company's fifty day moving average price is $77.08 and its 200-day moving average price is $74.12.
Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.22). The firm had revenue of $853.00 million for the quarter, compared to analysts' expectations of $960.45 million. As a group, research analysts anticipate that Formula One Group will post 1.01 EPS for the current fiscal year.
In other news, CAO Brian J. Wendling sold 10,011 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Renee L. Wilm sold 19,202 shares of the business's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian J. Wendling sold 10,011 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,817 shares of company stock worth $2,327,591. Company insiders own 4.31% of the company's stock.
Several large investors have recently bought and sold shares of the business. Hahn Capital Management LLC grew its stake in Formula One Group by 33.5% during the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company's stock valued at $4,929,000 after acquiring an additional 17,219 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Formula One Group by 13.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company's stock valued at $1,378,000 after buying an additional 2,514 shares during the period. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Formula One Group in the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 92.26% of the company's stock.
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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