Formula One Group (NASDAQ:FWONA) Now Covered by Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Formula One Group (NASDAQ:FWONA - Free Report) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $105.00 price target on the stock.

FWONA has been the subject of a number of other reports. Guggenheim reissued a "buy" rating on shares of Formula One Group in a report on Monday, March 3rd. Seaport Res Ptn raised Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Saturday, March 15th. Susquehanna assumed coverage on Formula One Group in a report on Monday, April 28th. They set a "positive" rating and a $115.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Formula One Group in a report on Monday, February 24th. They issued an "underweight" rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Formula One Group has an average rating of "Moderate Buy" and a consensus target price of $96.00.

Formula One Group Price Performance

Shares of NASDAQ:FWONA traded up $0.18 during trading on Wednesday, reaching $88.81. 197,210 shares of the company's stock traded hands, compared to its average volume of 109,171. The stock has a market capitalization of $22.15 billion, a P/E ratio of 77.23 and a beta of 0.40. Formula One Group has a 12 month low of $63.01 and a 12 month high of $95.33. The company has a 50 day moving average of $81.64 and a 200-day moving average of $83.42.

Formula One Group (NASDAQ:FWONA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The company had revenue of $400.00 million during the quarter, compared to the consensus estimate of $440.80 million. Equities research analysts predict that Formula One Group will post 1.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Chase Carey sold 100,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $96.38, for a total transaction of $9,638,000.00. Following the completion of the sale, the director now directly owns 93,102 shares of the company's stock, valued at $8,973,170.76. This trade represents a 51.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.97% of the company's stock.

Institutional Trading of Formula One Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Formula One Group by 67.2% in the fourth quarter. Russell Investments Group Ltd. now owns 662 shares of the company's stock worth $56,000 after acquiring an additional 266 shares in the last quarter. Quantbot Technologies LP raised its stake in Formula One Group by 61.6% during the 1st quarter. Quantbot Technologies LP now owns 2,404 shares of the company's stock valued at $196,000 after purchasing an additional 916 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Formula One Group by 74.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company's stock valued at $1,497,000 after purchasing an additional 7,811 shares in the last quarter. Strs Ohio acquired a new stake in shares of Formula One Group in the first quarter worth $2,232,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Formula One Group by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 59,343 shares of the company's stock valued at $4,835,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 8.38% of the company's stock.

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.