Formula One Group (NASDAQ:FWONK) Stock Holdings Boosted by Greenwood Gearhart Inc.

Greenwood Gearhart Inc. increased its position in Formula One Group (NASDAQ:FWONK) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,160 shares of the company’s stock after acquiring an additional 13,146 shares during the period. Greenwood Gearhart Inc. owned approximately 0.08% of Formula One Group worth $13,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FWONK. Hahn Capital Management LLC grew its stake 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 purchasing an additional 17,219 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Formula One Group by 16.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after buying an additional 3,958 shares in the last quarter. Lountzis Asset Management LLC increased its stake in Formula One Group by 17.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after buying an additional 864 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Formula One Group by 3.0% during the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock worth $538,000 after buying an additional 203 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

Formula One Group Stock Performance

Formula One Group stock opened at $91.14 on Tuesday. Formula One Group has a twelve month low of $61.44 and a twelve month high of $94.84. The firm has a market cap of $20.26 billion, a PE ratio of 79.25 and a beta of 0.17. The firm’s 50 day moving average price is $82.22 and its two-hundred day moving average price is $78.02.

Formula One Group (NASDAQ:FWONK) last issued its earnings results on Tuesday, November 12th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $837.59 million. Equities analysts anticipate that Formula One Group will post 1.36 EPS for the current fiscal year.

Insider Activity at Formula One Group

In related news, Director Andrea L. Wong sold 1,604 shares of Formula One Group stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now owns 5,274 shares in the company, valued at $250,040.34. This trade represents a 23.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 31,911 shares of company stock valued at $2,403,701.

Analysts Set New Price Targets

A number of analysts have recently commented on FWONK shares. StockNews.com downgraded Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Morgan Stanley boosted their price target on shares of Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Rosenblatt Securities raised their price objective on shares of Formula One Group from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, UBS Group assumed coverage on shares of Formula One Group in a research note on Thursday, October 17th. They set a “neutral” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.25.

Formula One Group 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.