California State Teachers Retirement System Raises Stake in Formula One Group (NASDAQ:FWONK)

California State Teachers Retirement System increased its holdings in Formula One Group (NASDAQ:FWONK - Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 350,938 shares of the company's stock after purchasing an additional 6,297 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Formula One Group worth $32,518,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Allstate Corp purchased a new stake in Formula One Group during the 4th quarter valued at $571,000. Janney Montgomery Scott LLC boosted its position in Formula One Group by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock valued at $2,560,000 after buying an additional 287 shares during the period. Hahn Capital Management LLC boosted its position in Formula One Group by 47.7% during the 4th quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock valued at $6,226,000 after buying an additional 21,699 shares during the period. Greenwood Gearhart Inc. boosted its position in Formula One Group by 2.7% during the 4th quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock valued at $16,764,000 after buying an additional 4,761 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Formula One Group by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock valued at $37,529,000 after buying an additional 4,897 shares during the period. Hedge funds and other institutional investors own 92.26% of the company's stock.

Insider Buying and Selling at Formula One Group

In related news, Director Chase Carey sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $94.60, for a total value of $4,730,000.00. Following the transaction, the director now owns 93,102 shares of the company's stock, valued at approximately $8,807,449.20. This trade represents a 34.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Susquehanna assumed coverage on shares of Formula One Group in a research report on Monday, April 28th. They set a "positive" rating and a $115.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and set a $102.00 price target on shares of Formula One Group in a research report on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Seaport Res Ptn raised shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Formula One Group from $105.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.57.

Formula One Group Stock Down 0.1%

Shares of NASDAQ:FWONK traded down $0.12 on Friday, hitting $95.32. The company had a trading volume of 2,230,249 shares, compared to its average volume of 1,250,390. The firm's 50-day simple moving average is $89.08 and its two-hundred day simple moving average is $90.99. Formula One Group has a 1 year low of $70.31 and a 1 year high of $102.33. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 82.89 and a beta of 0.33.

Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.23. The business had revenue of $447.00 million during the quarter, compared to the consensus estimate of $440.80 million. Equities research analysts anticipate that Formula One Group will post 1.36 EPS for the current year.

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.