Formula One Group (NASDAQ:FWONK) Given Consensus Rating of “Moderate Buy” by Brokerages

Formula One Group (NASDAQ:FWONK) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $98.00.

Several equities analysts recently commented on FWONK shares. Seaport Res Ptn lowered shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Rosenblatt Securities increased their price objective on shares of Formula One Group from $93.00 to $102.00 and gave the company a “buy” rating in a research report on Friday, January 10th. StockNews.com lowered shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Finally, Morgan Stanley raised shares of Formula One Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $95.00 to $115.00 in a research report on Wednesday, December 18th.

Insider Transactions at Formula One Group

In other news, CEO Gregory B. Maffei sold 35,463 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the sale, the chief executive officer now owns 1,240,785 shares of the company’s stock, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.31% of the company’s stock.

Institutional Investors Weigh In On Formula One Group

A number of institutional investors have recently added to or reduced their stakes in FWONK. Janney Montgomery Scott LLC grew its stake in Formula One Group by 16.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after acquiring an additional 3,958 shares during the period. Lountzis Asset Management LLC grew its stake in Formula One Group by 17.0% in the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after acquiring an additional 864 shares during the period. MetLife Investment Management LLC grew its stake in Formula One Group by 3.0% in the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock valued at $538,000 after acquiring an additional 203 shares during the period. Greenwood Gearhart Inc. grew its stake in Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock valued at $13,640,000 after acquiring an additional 13,146 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in Formula One Group in the 4th quarter valued at $827,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

Formula One Group Stock Up 0.2 %

Shares of Formula One Group stock opened at $97.00 on Tuesday. The firm has a market capitalization of $24.12 billion, a P/E ratio of 84.35 and a beta of 0.11. The company has a 50 day moving average price of $94.77 and a 200 day moving average price of $85.72. Formula One Group has a 52 week low of $64.37 and a 52 week high of $102.33.

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.