Formula One Group (NASDAQ:FWONA) Reaches New 1-Year High – Time to Buy?

Shares of Formula One Group (NASDAQ:FWONA) hit a new 52-week high during trading on Wednesday . The stock traded as high as $77.80 and last traded at $76.93, with a volume of 4768 shares trading hands. The stock had previously closed at $75.17.

Analysts Set New Price Targets

Separately, Benchmark boosted their target price on shares of Formula One Group from $77.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Formula One Group Trading Up 2.1 %

The stock has a 50 day moving average of $71.98 and a 200-day moving average of $68.78. The stock has a market capitalization of $18.04 billion, a P/E ratio of 72.40 and a beta of 0.05.

Formula One Group (NASDAQ:FWONA) last announced 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 company had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. Research analysts anticipate that Formula One Group will post 1.23 EPS for the current year.

Insider Activity at Formula One Group

In other news, Director Andrea L. Wong sold 1,604 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the completion of the sale, the director now owns 5,274 shares of the company’s stock, valued at $250,040.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Andrea L. Wong sold 1,604 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now directly owns 5,274 shares of the company’s stock, valued at $250,040.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 30,817 shares of company stock valued at $2,327,591 over the last quarter.

Institutional Investors Weigh In On Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC acquired a new stake in Formula One Group (NASDAQ:FWONA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,079 shares of the company’s stock, valued at approximately $220,000. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

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.