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

Formula One Group (NASDAQ:FWONA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $87.43 and last traded at $87.54, with a volume of 32562 shares traded. The stock had previously closed at $85.47.

Analyst Ratings Changes

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

Formula One Group Trading Up 1.8 %

The stock has a market capitalization of $21.95 billion, a PE ratio of 76.76 and a beta of 0.13. The stock’s fifty day simple moving average is $83.73 and its 200-day simple moving average is $76.10.

Formula One Group (NASDAQ:FWONA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. The firm had revenue of $848.00 million during the quarter, compared to the consensus estimate of $825.00 million. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, analysts anticipate that Formula One Group will post 1.46 earnings per share for the current fiscal year.

Insider Activity at Formula One Group

In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the completion of the transaction, the chief executive officer now directly owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian J. Wendling sold 1,094 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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. 4.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Formula One Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lountzis Asset Management LLC bought a new position in Formula One Group in the 3rd quarter valued at $220,000. Integrated Wealth Concepts LLC boosted its stake 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 buying an additional 300 shares during the period. Finally, FNY Investment Advisers LLC grew its position 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 in the last quarter. 8.38% of the stock is currently owned by institutional investors.

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.