Weekly Research Analysts’ Ratings Updates for Formula One Group (FWONK)

A number of firms have modified their ratings and price targets on shares of Formula One Group (NASDAQ: FWONK) recently:

  • 8/15/2022 – Formula One Group was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 8/9/2022 – Formula One Group had its price target raised by analysts at Morgan Stanley from $72.00 to $75.00. They now have an “overweight” rating on the stock.
  • 8/8/2022 – Formula One Group had its price target raised by analysts at Barclays PLC from $50.00 to $56.00. They now have an “underweight” rating on the stock.
  • 8/8/2022 – Formula One Group had its price target raised by analysts at Pivotal Research from $75.00 to $77.00.
  • 7/26/2022 – Formula One Group was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Formula One Group Trading Up 0.8 %

Shares of NASDAQ FWONK opened at $68.53 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $15.84 billion, a P/E ratio of -103.83 and a beta of 1.14. Formula One Group has a 1 year low of $47.07 and a 1 year high of $71.17. The firm has a 50-day moving average of $62.87 and a 200 day moving average of $62.91.

Insiders Place Their Bets

In related news, major shareholder Gamco Investors, Inc. Et Al purchased 2,000 shares of Formula One Group stock in a transaction dated Monday, June 27th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $300,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Formula One Group

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Formula One Group by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 2,104,684 shares of the company’s stock worth $146,990,000 after buying an additional 196,954 shares in the last quarter. Geode Capital Management LLC raised its stake in Formula One Group by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 2,766,232 shares of the company’s stock valued at $174,690,000 after purchasing an additional 151,376 shares in the last quarter. New York State Common Retirement Fund raised its stake in Formula One Group by 22.0% during the first quarter. New York State Common Retirement Fund now owns 713,889 shares of the company’s stock valued at $49,858,000 after purchasing an additional 128,870 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Formula One Group by 643.6% during the first quarter. Neuberger Berman Group LLC now owns 144,189 shares of the company’s stock valued at $10,094,000 after purchasing an additional 124,798 shares in the last quarter. Finally, NewSquare Capital LLC purchased a new stake in Formula One Group during the first quarter valued at $4,237,000. 89.48% of the stock is currently owned by institutional investors.

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the 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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