Formula One Group (NASDAQ:FWONA – Get Rating) had its price target raised by investment analysts at Deutsche Bank Aktiengesellschaft from $52.00 to $55.00 in a research note issued to investors on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 7.28% from the stock’s previous close.
Separately, Citigroup downgraded shares of Formula One Group from a “buy” rating to a “neutral” rating and upped their price target for the company from $61.00 to $65.00 in a research report on Sunday, April 24th.
FWONA stock opened at $51.27 on Tuesday. The company has a fifty day moving average price of $58.54 and a 200 day moving average price of $56.95. Formula One Group has a 12 month low of $37.80 and a 12 month high of $64.70. The company has a market cap of $11.85 billion, a price-to-earnings ratio of -66.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.73.
In other news, major shareholder Gamco Investors, Inc. Et Al acquired 5,000 shares of the business’s stock in a transaction on Wednesday, April 20th. The stock was bought at an average price of $28.02 per share, for a total transaction of $140,100.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at $140,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 12,000 shares of company stock valued at $328,850. 4.83% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FWONA. Geode Capital Management LLC lifted its position in shares of Formula One Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 230,367 shares of the company’s stock valued at $10,838,000 after acquiring an additional 6,393 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of Formula One Group by 115.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 47,289 shares of the company’s stock worth $2,225,000 after purchasing an additional 25,294 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Formula One Group by 5.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 78,779 shares of the company’s stock worth $3,706,000 after buying an additional 4,003 shares during the last quarter. Strs Ohio increased its holdings in shares of Formula One Group by 1.4% during the 4th quarter. Strs Ohio now owns 34,534 shares of the company’s stock worth $2,049,000 after buying an additional 480 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Formula One Group during the 4th quarter worth $279,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.
About Formula One Group (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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