Formula One Group (NASDAQ:FWONK) Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its holdings in shares of Formula One Group (NASDAQ:FWONK – Get Rating) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,128 shares of the company’s stock after purchasing an additional 1,128 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Formula One Group were worth $1,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FWONK. MetLife Investment Management LLC acquired a new stake in Formula One Group during the 1st quarter worth $277,000. Brown Brothers Harriman & Co. boosted its stake 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. Weiss Multi Strategy Advisers LLC acquired a new stake in Formula One Group during the 1st quarter worth $1,455,000. Neuberger Berman Group LLC boosted its stake in Formula One Group by 643.6% during the 1st quarter. Neuberger Berman Group LLC now owns 144,189 shares of the company’s stock worth $10,094,000 after purchasing an additional 124,798 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Formula One Group by 4.6% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 45,697 shares of the company’s stock worth $2,900,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Insider Activity at Formula One Group

In related news, major shareholder Gamco Investors, Inc. Et Al acquired 800 shares of Formula One Group stock in a transaction that occurred on Friday, December 23rd. The shares were purchased at an average cost of $32.58 per share, for a total transaction of $26,064.00. Following the acquisition, the insider now owns 12,800 shares in the company, valued at $417,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Formula One Group news, Director Malcolm Ian Grant Gilchrist sold 916 shares of Formula One Group stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $59.09, for a total value of $54,126.44. Following the completion of the transaction, the director now directly owns 3,940 shares of the company’s stock, valued at approximately $232,814.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gamco Investors, Inc. Et Al bought 800 shares of the company’s stock in a transaction on Friday, December 23rd. The stock was purchased at an average cost of $32.58 per share, with a total value of $26,064.00. Following the completion of the transaction, the insider now owns 12,800 shares in the company, valued at $417,024. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 8,200 shares of company stock worth $267,200 and have sold 28,335 shares worth $1,286,901. 4.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FWONK shares. StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a research note on Friday, November 25th. Rosenblatt Securities reduced their price target on Formula One Group from $76.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.60.

Formula One Group Stock Up 6.0 %

Shares of FWONK opened at $70.09 on Monday. The firm has a market cap of $16.39 billion, a P/E ratio of -539.15 and a beta of 1.08. Formula One Group has a 12-month low of $50.00 and a 12-month high of $71.17. The company’s 50-day moving average price is $60.93 and its 200 day moving average price is $61.90. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.92.

Formula One Group (NASDAQ:FWONK – Get Rating) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.15. The firm had revenue of $715.00 million for the quarter, compared to analyst estimates of $733.55 million. Formula One Group had a net margin of 1.34% and a return on equity of 0.19%. On average, sell-side analysts forecast that Formula One Group will post 0.87 earnings per share for the current year.

Formula One Group Profile

(Get Rating)

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.