Insider Buying: Formula One Group (NASDAQ:FWONK) Major Shareholder Buys 1,000 Shares of Stock

Formula One Group (NASDAQ:FWONKGet Rating) major shareholder Gamco Investors, Inc. Et Al bought 1,000 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were purchased at an average cost of $26.05 per share, for a total transaction of $26,050.00. Following the transaction, the insider now owns 17,500 shares in the company, valued at $455,875. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Monday, April 25th, Gamco Investors, Inc. Et Al bought 1,000 shares of Formula One Group stock. The shares were purchased at an average cost of $27.10 per share, for a total transaction of $27,100.00.
  • On Wednesday, April 20th, Gamco Investors, Inc. Et Al bought 5,000 shares of Formula One Group stock. The shares were purchased at an average cost of $28.02 per share, for a total transaction of $140,100.00.
  • On Tuesday, April 12th, Gamco Investors, Inc. Et Al bought 5,000 shares of Formula One Group stock. The shares were purchased at an average cost of $27.12 per share, for a total transaction of $135,600.00.

Formula One Group stock opened at $61.40 on Friday. Formula One Group has a 1-year low of $42.84 and a 1-year high of $71.17. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.86. The firm has a 50 day simple moving average of $64.14 and a 200 day simple moving average of $61.67.

Formula One Group (NASDAQ:FWONKGet Rating) last released its quarterly earnings data on Friday, February 25th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.81). Formula One Group had a negative net margin of 8.90% and a negative return on equity of 1.01%. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $726.07 million. Analysts anticipate that Formula One Group will post 0.17 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in FWONK. O Shaughnessy Asset Management LLC boosted its holdings in Formula One Group by 84.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 490 shares of the company’s stock valued at $25,000 after purchasing an additional 225 shares during the period. Russell Investments Group Ltd. boosted its holdings in Formula One Group by 1.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 19,439 shares of the company’s stock valued at $998,000 after purchasing an additional 264 shares during the period. Lindbrook Capital LLC boosted its holdings in Formula One Group by 222.0% in the 4th quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock valued at $26,000 after purchasing an additional 282 shares during the period. James Investment Research Inc. bought a new position in Formula One Group in the 4th quarter valued at $37,000. Finally, Schroder Investment Management Group boosted its holdings in Formula One Group by 7.9% in the 3rd quarter. Schroder Investment Management Group now owns 13,032 shares of the company’s stock valued at $670,000 after purchasing an additional 949 shares during the period. Institutional investors and hedge funds own 89.48% of the company’s stock.

Several equities analysts have commented on FWONK shares. Rosenblatt Securities started coverage on shares of Formula One Group in a research report on Monday, April 25th. They set a “buy” rating and a $81.00 target price on the stock. StockNews.com began coverage on shares of Formula One Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Formula One Group from $65.00 to $77.00 in a research note on Thursday, April 21st. Morgan Stanley raised their price target on shares of Formula One Group from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 26th. Finally, Zacks Investment Research lowered shares of Formula One Group from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Formula One Group currently has an average rating of “Hold” and a consensus price target of $62.43.

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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