Formula One Group (NASDAQ:FWONK) Shares Gap Up to $66.11

Shares of Formula One Group (NASDAQ:FWONKGet Rating) gapped up before the market opened on Friday . The stock had previously closed at $66.11, but opened at $69.10. Formula One Group shares last traded at $69.29, with a volume of 11,578 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FWONK. Rosenblatt Securities lowered their price objective on shares of Formula One Group from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, November 7th. StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Friday, November 25th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.60.

Formula One Group Stock Up 6.0 %

The firm has a market cap of $16.39 billion, a PE ratio of -539.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day moving average price is $60.93 and its two-hundred day moving average price is $61.89.

Formula One Group (NASDAQ:FWONKGet Rating) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.15. The business had revenue of $715.00 million during the quarter, compared to the consensus estimate of $733.55 million. Formula One Group had a net margin of 1.34% and a return on equity of 0.19%. As a group, equities research analysts expect that Formula One Group will post 0.87 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Gamco Investors, Inc. Et Al acquired 800 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were bought at an average cost of $32.58 per share, with a total value of $26,064.00. Following the purchase, the insider now owns 12,800 shares of the company’s stock, valued at approximately $417,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Brian J. Wendling sold 1,370 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $35.00, for a total transaction of $47,950.00. Following the transaction, the chief accounting officer now directly owns 14,871 shares of the company’s stock, valued at approximately $520,485. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Gamco Investors, Inc. Et Al purchased 800 shares of the stock in a transaction dated Friday, December 23rd. The shares were bought at an average cost of $32.58 per share, for a total transaction of $26,064.00. Following the completion of the purchase, the insider now owns 12,800 shares in the company, valued at $417,024. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 8,200 shares of company stock valued at $267,200 and have sold 28,335 shares valued at $1,286,901. Corporate insiders own 4.31% of the company’s stock.

Institutional Trading of Formula One Group

Several large investors have recently bought and sold shares of FWONK. James Investment Research Inc. boosted its position in shares of Formula One Group by 209.8% in the 2nd quarter. James Investment Research Inc. now owns 539 shares of the company’s stock valued at $34,000 after purchasing an additional 365 shares during the period. US Bancorp DE boosted its position in Formula One Group by 421.2% during the 2nd quarter. US Bancorp DE now owns 1,449 shares of the company’s stock worth $92,000 after acquiring an additional 1,171 shares during the period. MetLife Investment Management LLC acquired a new stake in Formula One Group during the 1st quarter worth about $277,000. Brown Brothers Harriman & Co. boosted its position in Formula One Group by 20.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,181 shares of the company’s stock worth $292,000 after acquiring an additional 696 shares during the period. Finally, Tobam boosted its position in Formula One Group by 739.6% during the 2nd quarter. Tobam now owns 7,061 shares of the company’s stock worth $448,000 after acquiring an additional 6,220 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

About Formula One Group

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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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