Seaport Res Ptn upgraded shares of Formula One Group (NASDAQ:FWONA – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday,Zacks.com reports. Seaport Res Ptn also issued estimates for Formula One Group’s Q1 2026 earnings at ($0.15) EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.41 EPS and Q4 2026 earnings at ($0.04) EPS.
A number of other research firms also recently weighed in on FWONA. Guggenheim restated a “buy” rating on shares of Formula One Group in a research note on Monday, March 3rd. Wells Fargo & Company assumed coverage on Formula One Group in a research note on Monday, February 24th. They issued an “underweight” rating and a $83.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.33.
Get Our Latest Research Report on FWONA
Formula One Group Stock Performance
Formula One Group (NASDAQ:FWONA – Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($1.46). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, equities research analysts predict that Formula One Group will post 1.46 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its holdings in shares of Formula One Group by 4.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock worth $534,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Formula One Group by 67.2% during the 4th quarter. Russell Investments Group Ltd. now owns 662 shares of the company’s stock worth $56,000 after buying an additional 266 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in shares of Formula One Group by 25.6% during the 4th quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock worth $65,000 after buying an additional 159 shares in the last quarter. 8.38% of the stock is currently owned by institutional investors.
About Formula One Group
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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