Formula One Group (NASDAQ:FWONA) Upgraded to Strong-Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Formula One Group (NASDAQ:FWONA) from a hold rating to a strong-buy rating in a report released on Saturday morning,Zacks.com reports. Seaport Res Ptn also issued estimates for Formula One Group’s Q1 2026 earnings at ($0.15) EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.41 EPS and Q4 2026 earnings at ($0.04) EPS.

Several other brokerages have also recently commented on FWONA. Guggenheim restated a “buy” rating on shares of Formula One Group in a report on Monday, March 3rd. Wells Fargo & Company began coverage on Formula One Group in a report on Monday, February 24th. They issued an “underweight” rating and a $83.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.33.

Formula One Group Price Performance

Formula One Group stock opened at $79.80 on Friday. The stock has a fifty day moving average price of $86.20 and a two-hundred day moving average price of $79.90. Formula One Group has a 52-week low of $57.43 and a 52-week high of $95.33. The firm has a market capitalization of $19.89 billion, a P/E ratio of 69.39 and a beta of 0.15.

Formula One Group (NASDAQ:FWONA) last released its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($1.46). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.37 billion. On average, equities research analysts predict that Formula One Group will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Formula One Group

Several hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised 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 during the period. Russell Investments Group Ltd. raised its position in shares of Formula One Group by 67.2% during the fourth quarter. Russell Investments Group Ltd. now owns 662 shares of the company’s stock worth $56,000 after purchasing an additional 266 shares during the period. Finally, FNY Investment Advisers LLC raised its position in shares of 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 during the period. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.