Public Employees Retirement System of Ohio Boosts Holdings in Formula One Group (NASDAQ:FWONK)

Public Employees Retirement System of Ohio boosted its stake in Formula One Group (NASDAQ:FWONK - Free Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,019 shares of the company's stock after buying an additional 4,897 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.16% of Formula One Group worth $37,529,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FWONK. Greenwood Gearhart Inc. grew its holdings in Formula One Group by 2.7% in 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 in the last quarter. Hahn Capital Management LLC increased its position in Formula One Group by 47.7% during the fourth quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock worth $6,226,000 after purchasing an additional 21,699 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Formula One Group by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after purchasing an additional 287 shares during the period. Finally, Allstate Corp acquired a new position in Formula One Group in the 4th quarter valued at about $571,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FWONK has been the subject of a number of research analyst reports. Susquehanna initiated coverage on Formula One Group in a 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 issued a $102.00 price target on shares of Formula One Group in a research note on Friday, March 7th. Wells Fargo & Company lowered their price target on 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. JPMorgan Chase & Co. upped 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 note on Wednesday, May 21st. Finally, Morgan Stanley reduced their price target on Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Formula One Group presently has an average rating of "Moderate Buy" and an average price target of $98.57.

Insider Transactions at Formula One Group

In other Formula One Group news, Director Chase Carey sold 50,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.60, for a total transaction of $4,730,000.00. Following the sale, the director now directly owns 93,102 shares in the company, valued at approximately $8,807,449.20. The trade was a 34.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.31% of the company's stock.

Formula One Group Trading Up 0.8%

Shares of Formula One Group stock traded up $0.78 on Thursday, hitting $96.25. The stock had a trading volume of 244,880 shares, compared to its average volume of 1,246,006. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 83.62 and a beta of 0.33. Formula One Group has a 52-week low of $70.31 and a 52-week high of $102.33. The company's 50 day moving average price is $88.84 and its 200 day moving average price is $90.80.

Formula One Group (NASDAQ:FWONK - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $440.80 million. Analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

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.