Formula One Group (NASDAQ:FWONA) Hits New 52-Week High – Time to Buy?

Formula One Group (NASDAQ:FWONAGet Free Report) reached a new 52-week high on Tuesday . The company traded as high as $75.50 and last traded at $75.34, with a volume of 7560 shares traded. The stock had previously closed at $74.45.

Analyst Ratings Changes

Separately, Benchmark lifted their target price on Formula One Group from $77.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Check Out Our Latest Research Report on FWONA

Formula One Group Price Performance

The stock has a market cap of $17.56 billion, a P/E ratio of 54.53 and a beta of 0.09. The stock’s 50-day moving average is $71.48 and its two-hundred day moving average is $68.26.

Formula One Group (NASDAQ:FWONAGet Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $1.04 billion. On average, analysts anticipate that Formula One Group will post 1.23 EPS for the current fiscal year.

Insider Activity at Formula One Group

In other Formula One Group news, insider Renee L. Wilm sold 19,202 shares of Formula One Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $78.78, for a total transaction of $1,512,733.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Renee L. Wilm sold 19,202 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian J. Wendling sold 10,011 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $73.80, for a total value of $738,811.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,817 shares of company stock worth $2,327,591. Company insiders own 4.83% of the company’s stock.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC raised its holdings in shares of Formula One Group (NASDAQ:FWONAFree Report) by 13.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,413 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Formula One Group Company Profile

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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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