Insider Buying: Formula One Group (NASDAQ:FWONK) Major Shareholder Acquires 5,000 Shares of Stock

Formula One Group (NASDAQ:FWONKGet Rating) major shareholder Gamco Investors, Inc. Et Al purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, April 12th. The shares were acquired at an average cost of $27.12 per share, with a total value of $135,600.00. Following the completion of the transaction, the insider now owns 40,000 shares in the company, valued at $1,084,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Gamco Investors, Inc. Et Al also recently made the following trade(s):

  • On Wednesday, April 20th, Gamco Investors, Inc. Et Al acquired 5,000 shares of Formula One Group stock. The stock was acquired at an average price of $28.02 per share, with a total value of $140,100.00.

Shares of FWONK stock traded up $0.75 during trading hours on Thursday, reaching $69.38. 40,947 shares of the company traded hands, compared to its average volume of 1,310,026. Formula One Group has a 12-month low of $42.84 and a 12-month high of $70.55. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $16.03 billion, a P/E ratio of -83.70 and a beta of 1.23. The firm has a 50-day moving average price of $63.76 and a 200 day moving average price of $60.80.

Formula One Group (NASDAQ:FWONKGet Rating) last posted its quarterly earnings results on Friday, February 25th. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.81). Formula One Group had a negative return on equity of 1.01% and a negative net margin of 8.90%. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $726.07 million. Sell-side analysts predict that Formula One Group will post 0.06 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in Formula One Group by 38.0% in the 1st quarter. First Trust Advisors LP now owns 86,656 shares of the company’s stock worth $3,037,000 after purchasing an additional 23,853 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Formula One Group by 1.8% in the third quarter. New York State Common Retirement Fund now owns 241,958 shares of the company’s stock worth $12,439,000 after purchasing an additional 4,227 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Formula One Group by 6.7% in the third quarter. Thompson Siegel & Walmsley LLC now owns 53,977 shares of the company’s stock worth $2,775,000 after purchasing an additional 3,384 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Formula One Group by 1.4% in the third quarter. Russell Investments Group Ltd. now owns 19,439 shares of the company’s stock worth $998,000 after purchasing an additional 264 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Formula One Group by 84.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 490 shares of the company’s stock worth $25,000 after purchasing an additional 225 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on FWONK. StockNews.com began coverage on Formula One Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley boosted their price target on Formula One Group from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 26th. Zacks Investment Research upgraded Formula One Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Formula One Group from $65.00 to $77.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Formula One Group has an average rating of “Hold” and a consensus target price of $57.83.

Formula One Group Company Profile (Get Rating)

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the 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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