Seaport Res Ptn Has Strong Forecast for FWONK Q4 Earnings

Formula One Group (NASDAQ:FWONK) – Equities researchers at Seaport Res Ptn raised their Q4 2024 earnings per share estimates for shares of Formula One Group in a research note issued on Thursday, November 7th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings of $0.62 per share for the quarter, up from their previous forecast of $0.52. The consensus estimate for Formula One Group’s current full-year earnings is $1.01 per share. Seaport Res Ptn also issued estimates for Formula One Group’s FY2028 earnings at $1.56 EPS.

A number of other analysts have also recently weighed in on FWONK. StockNews.com upgraded Formula One Group to a “sell” rating in a research report on Friday. Morgan Stanley increased their target price on Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Rosenblatt Securities increased their target price on Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Friday. Finally, UBS Group began coverage on Formula One Group in a report on Thursday, October 17th. They set a “neutral” rating and a $85.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $88.25.

Formula One Group Trading Down 0.0 %

Shares of NASDAQ FWONK opened at $81.41 on Monday. The business has a fifty day simple moving average of $78.21 and a 200 day simple moving average of $75.67. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of 76.85 and a beta of 0.01. Formula One Group has a one year low of $61.23 and a one year high of $85.60.

Institutional Investors Weigh In On Formula One Group

A number of institutional investors have recently made changes to their positions in FWONK. Beach Investment Counsel Inc. PA purchased a new stake in shares of Formula One Group in the second quarter worth approximately $48,000. Lountzis Asset Management LLC grew its holdings in shares of Formula One Group by 17.0% in the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after acquiring an additional 864 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Formula One Group by 13.6% in the first quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock valued at $1,378,000 after acquiring an additional 2,514 shares in the last quarter. Finally, Hahn Capital Management LLC grew its holdings in shares of Formula One Group by 33.5% in the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after acquiring an additional 17,219 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Insider Buying and Selling at Formula One Group

In other Formula One Group news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Brian J. Wendling sold 10,011 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $73.80, for a total transaction of $738,811.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea L. Wong sold 1,604 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the sale, the director now owns 5,274 shares in the company, valued at $250,040.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,817 shares of company stock valued at $2,327,591 in the last three months. Corporate insiders own 4.31% of the company’s stock.

Formula One Group Company 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.