Formula One Group (NASDAQ:FWONK - Free Report) - Research analysts at Seaport Res Ptn boosted their Q1 2024 earnings estimates for Formula One Group in a research report issued on Monday, April 15th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of $0.11 for the quarter, up from their previous estimate of $0.09. The consensus estimate for Formula One Group's current full-year earnings is $0.94 per share. Seaport Res Ptn also issued estimates for Formula One Group's Q2 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.15 EPS and FY2025 earnings at $1.46 EPS.
Separately, StockNews.com downgraded shares of Formula One Group from a "hold" rating to a "sell" rating in a research note on Saturday, March 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $82.67.
View Our Latest Report on FWONK
Formula One Group Stock Down 0.6 %
FWONK traded down $0.38 during trading on Wednesday, reaching $67.28. 721,192 shares of the company's stock were exchanged, compared to its average volume of 1,098,284. Formula One Group has a fifty-two week low of $60.95 and a fifty-two week high of $78.58. The business has a 50 day moving average price of $68.42 and a 200 day moving average price of $66.30.
Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.06). The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.25 billion.
Insider Activity
In other Formula One Group news, major shareholder Berkshire Hathaway Inc purchased 650,224 shares of the business's stock in a transaction that occurred on Tuesday, January 23rd. The stock was acquired at an average cost of $30.96 per share, with a total value of $20,130,935.04. Following the completion of the acquisition, the insider now directly owns 47,118,902 shares of the company's stock, valued at approximately $1,458,801,205.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have bought 7,264,095 shares of company stock worth $207,506,924.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its holdings in Formula One Group by 20.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,181 shares of the company's stock worth $292,000 after purchasing an additional 696 shares during the last quarter. Bessemer Group Inc. raised its holdings in Formula One Group by 2,600.0% during the 4th quarter. Bessemer Group Inc. now owns 1,755 shares of the company's stock worth $105,000 after purchasing an additional 1,690 shares during the last quarter. Greenwood Gearhart Inc. raised its holdings in Formula One Group by 2.2% during the 4th quarter. Greenwood Gearhart Inc. now owns 155,687 shares of the company's stock worth $9,307,000 after purchasing an additional 3,340 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Formula One Group during the 1st quarter worth about $277,000. Finally, Natixis Advisors L.P. raised its holdings in Formula One Group by 31.4% during the 2nd quarter. Natixis Advisors L.P. now owns 25,151 shares of the company's stock worth $1,596,000 after purchasing an additional 6,014 shares during the last quarter. 92.26% of the stock is owned by institutional investors.
About Formula One Group
(
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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.
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