Rosenblatt Securities Issues Positive Forecast for Formula One Group (NASDAQ:FWONK) Stock Price

Formula One Group (NASDAQ:FWONK) had its price target increased by Rosenblatt Securities from $91.00 to $93.00 in a research report sent to investors on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on FWONK. UBS Group began coverage on Formula One Group in a report on Thursday, October 17th. They set a “neutral” rating and a $85.00 price objective for the company. StockNews.com raised Formula One Group to a “sell” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.25.

Formula One Group Price Performance

Formula One Group stock opened at $81.41 on Friday. Formula One Group has a 1-year low of $61.23 and a 1-year high of $85.60. The company has a market cap of $17.08 billion, a PE ratio of 76.85 and a beta of 0.01. The stock’s 50 day moving average price is $78.21 and its 200 day moving average price is $75.67.

Insiders Place Their Bets

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 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 filing with the SEC, which is available at this link. In other Formula One Group news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $73.80, for a total transaction of $738,811.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Renee L. Wilm sold 19,202 shares of Formula One Group stock in a transaction 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 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 in the last quarter. Insiders own 4.31% of the company’s stock.

Hedge Funds Weigh In On Formula One Group

Hedge funds have recently modified their holdings of the stock. Hahn Capital Management LLC boosted its position in shares of Formula One Group by 33.5% in the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after buying an additional 17,219 shares during the period. Janney Montgomery Scott LLC boosted its position in Formula One Group by 16.9% during the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after purchasing an additional 3,958 shares during the last quarter. Lountzis Asset Management LLC lifted its position in shares of Formula One Group by 17.0% in the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock worth $461,000 after buying an additional 864 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Formula One Group in the second quarter worth about $48,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.