Formula One Group (NASDAQ:FWONA) Sets New 12-Month High – What’s Next?

Formula One Group (NASDAQ:FWONA)’s stock price reached a new 52-week high 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.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $81.00 price objective on shares of Formula One Group in a research report on Thursday, November 14th. Seaport Res Ptn lowered Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th.

Formula One Group Price Performance

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

Formula One Group (NASDAQ:FWONA) last posted its earnings results on Tuesday, November 12th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. The business had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $825.00 million. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, equities research analysts expect that Formula One Group will post 1.46 EPS for the current year.

Insider Activity at Formula One Group

In related news, 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 completion of the transaction, the chief executive officer now directly owns 1,240,785 shares in the company, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian J. Wendling sold 1,094 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The disclosure for this sale can be found here. 4.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FWONA. FNY Investment Advisers LLC raised its holdings in Formula One Group by 25.6% during the fourth quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock worth $65,000 after purchasing an additional 159 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Formula One Group by 4.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock valued at $534,000 after buying an additional 300 shares during the last quarter. Finally, Lountzis Asset Management LLC acquired a new stake in Formula One Group during the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 8.38% of the company’s stock.

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.