Formula One Group (NASDAQ:FWONA) Sets New 52-Week High – Should You Buy?

Formula One Group (NASDAQ:FWONA) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $87.43 and last traded at $87.54, with a volume of 32562 shares trading hands. The stock had previously closed at $85.47.

Wall Street Analyst Weigh In

FWONA has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and set a $81.00 target price on shares of Formula One Group in a research note on Thursday, November 14th. Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th.

Formula One Group Trading Up 1.6 %

The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 75.51 and a beta of 0.13. The company has a fifty day simple moving average of $83.29 and a 200-day simple moving average of $75.89.

Formula One Group (NASDAQ:FWONA) last issued its earnings results on Tuesday, November 12th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.31 by $0.17. The business had revenue of $848.00 million during the quarter, compared to analyst estimates of $825.00 million. During the same period last year, the business earned $0.39 EPS. As a group, analysts anticipate that Formula One Group will post 1.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Brian J. Wendling sold 1,094 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total value of $76,109.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory B. Maffei sold 35,463 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the transaction, the chief executive officer now owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FWONA. FNY Investment Advisers LLC boosted its position in Formula One Group by 25.6% in the fourth quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock valued at $65,000 after buying an additional 159 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Formula One Group by 4.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock worth $534,000 after purchasing an additional 300 shares in the last quarter. Finally, Lountzis Asset Management LLC bought a new stake in shares of Formula One Group during the third quarter valued at approximately $220,000. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Formula One Group Company Profile

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.