Shares of Formula One Group (NASDAQ:FWONA – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $72.86 and last traded at $72.76, with a volume of 5187 shares. The stock had previously closed at $72.13.
Analysts Set New Price Targets
A number of brokerages have issued reports on FWONA. Benchmark reiterated a “buy” rating and set a $77.00 price target on shares of Formula One Group in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded Formula One Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $73.00 to $83.00 in a research report on Thursday, May 30th.
Check Out Our Latest Research Report on FWONA
Formula One Group Stock Down 0.9 %
Formula One Group (NASDAQ:FWONA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.11 by $0.21. The company had revenue of $550.00 million during the quarter, compared to analyst estimates of $591.77 million. Research analysts forecast that Formula One Group will post 1.47 earnings per share for the current fiscal year.
Insider Activity at Formula One Group
In other Formula One Group news, Chairman John C. Malone sold 89,951 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $70.53, for a total transaction of $6,344,244.03. Following the completion of the sale, the chairman now owns 2,540,430 shares of the company’s stock, valued at $179,176,527.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Formula One Group news, Chairman John C. Malone sold 89,951 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $70.53, for a total transaction of $6,344,244.03. Following the completion of the sale, the chairman now owns 2,540,430 shares of the company’s stock, valued at $179,176,527.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 219,303 shares of the business’s stock in a transaction on Friday, April 26th. The shares were acquired at an average cost of $24.46 per share, with a total value of $5,364,151.38. Following the purchase, the insider now owns 35,182,219 shares of the company’s stock, valued at $860,557,076.74. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 282,072 shares of company stock valued at $17,749,275. 4.83% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Formula One Group
A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC lifted its stake in Formula One Group (NASDAQ:FWONA – Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,413 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 at the end of the most recent 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.
Featured Articles
- Five stocks we like better than Formula One Group
- Top Stocks Investing in 5G Technology
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- How Can Investors Benefit From After-Hours Trading
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- What is a Death Cross in Stocks?
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for Formula One Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Formula One Group and related companies with MarketBeat.com's FREE daily email newsletter.