Formula One Group (NASDAQ:FWONA) Sets New 12-Month High – Still a Buy?

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

Analysts Set New Price Targets

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

Formula One Group Stock Down 0.6 %

The company has a market cap of $17.56 billion, a PE ratio of 54.53 and a beta of 0.09. The company’s fifty day moving average is $71.48 and its 200-day moving average is $68.26.

Formula One Group (NASDAQ:FWONA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The firm had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. Equities research analysts expect that Formula One Group will post 1.23 EPS for the current fiscal year.

Insider Activity

In other Formula One Group news, insider Renee L. Wilm sold 19,202 shares of the stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. In other Formula One Group news, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 at this link. Also, CAO Brian J. Wendling sold 10,011 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was 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. Insiders sold 30,817 shares of company stock valued at $2,327,591 in the last quarter. 4.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC lifted its position in shares of Formula One Group (NASDAQ:FWONA) by 13.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,413 shares of the company’s stock after buying 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 quarter. Institutional investors and hedge funds 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.