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

Formula One Group (NASDAQ:FWONA) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $89.13 and last traded at $88.51, with a volume of 3547 shares changing hands. The stock had previously closed at $88.28.

Analyst Upgrades and Downgrades

FWONA has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $81.00 price objective on shares of Formula One Group in a research note on Thursday, November 14th. Seaport Res Ptn cut Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th.

Formula One Group Price Performance

The firm’s fifty day moving average is $84.45 and its 200 day moving average is $76.61. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 76.51 and a beta of 0.14.

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

Insider Activity

In related news, CEO Gregory B. Maffei sold 35,463 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following the completion of the sale, the chief executive officer now directly owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian J. Wendling sold 1,094 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total value of $76,109.58. The disclosure for this sale can be found here.

Institutional Trading of Formula One Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FWONA. FNY Investment Advisers LLC boosted 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 buying an additional 159 shares during the last quarter. Lountzis Asset Management LLC bought a new position in Formula One Group during the 3rd quarter worth approximately $220,000. Finally, Integrated Wealth Concepts LLC grew its holdings in Formula One Group by 4.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock valued at $534,000 after purchasing an additional 300 shares during the period. 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.