Seaport Res Ptn Issues Positive Outlook for FWONK Earnings

Formula One Group (NASDAQ:FWONK - Free Report) - Research analysts at Seaport Res Ptn lifted their Q3 2026 earnings per share (EPS) estimates for Formula One Group in a report released on Tuesday, June 10th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.54 per share for the quarter, up from their previous estimate of $0.45. Seaport Res Ptn has a "Strong-Buy" rating on the stock. The consensus estimate for Formula One Group's current full-year earnings is $1.36 per share. Seaport Res Ptn also issued estimates for Formula One Group's Q4 2026 earnings at $0.30 EPS.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.23. The business had revenue of $447.00 million for the quarter, compared to the consensus estimate of $440.80 million.

Several other research firms also recently commented on FWONK. Sanford C. Bernstein upgraded Formula One Group to a "hold" rating in a research report on Wednesday, June 4th. Susquehanna assumed coverage on shares of Formula One Group in a report on Monday, April 28th. They issued a "positive" rating and a $115.00 price objective for the company. Wall Street Zen lowered shares of Formula One Group from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Rosenblatt Securities upped their price target on shares of Formula One Group from $102.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company cut their price target on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $100.83.

Formula One Group Stock Down 0.7%

Shares of FWONK stock traded down $0.71 during trading hours on Friday, reaching $96.72. The company's stock had a trading volume of 957,932 shares, compared to its average volume of 1,217,900. Formula One Group has a fifty-two week low of $70.31 and a fifty-two week high of $102.33. The firm's 50 day simple moving average is $90.99 and its 200-day simple moving average is $91.84. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 84.11 and a beta of 0.42.

Insider Transactions at Formula One Group

In other news, Director Chase Carey sold 50,000 shares of Formula One Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.60, for a total value of $4,730,000.00. Following the sale, the director now directly owns 93,102 shares of the company's stock, valued at approximately $8,807,449.20. The trade was a 34.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FWONK. GW&K Investment Management LLC acquired a new position in shares of Formula One Group in the 1st quarter valued at about $25,000. Versant Capital Management Inc lifted its stake in shares of Formula One Group by 1,378.8% in the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock valued at $194,000 after purchasing an additional 2,013 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Formula One Group by 22.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company's stock valued at $382,000 after purchasing an additional 779 shares during the period. Allstate Corp purchased a new stake in Formula One Group during the fourth quarter worth $571,000. Finally, Praxis Investment Management Inc. grew its position in Formula One Group by 10.7% during the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock valued at $888,000 after buying an additional 950 shares during the period. 92.26% of the stock is currently owned by hedge funds and other 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.