Formula One Group (NASDAQ:FWONK – Get Rating) has been assigned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.80.
A number of analysts have recently commented on FWONK shares. Morgan Stanley upped their price target on Formula One Group from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, March 2nd. Pivotal Research upped their price target on Formula One Group from $70.00 to $82.00 in a research report on Thursday, March 2nd. Wolfe Research assumed coverage on Formula One Group in a report on Friday, February 24th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. increased their price target on Formula One Group from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, March 9th. Finally, StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note on Friday.
Insider Transactions at Formula One Group
In other news, Chairman John C. Malone sold 119,680 shares of Formula One Group stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $74.59, for a total value of $8,926,931.20. Following the sale, the chairman now directly owns 3,550,381 shares of the company’s stock, valued at $264,822,918.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman John C. Malone sold 119,680 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $74.59, for a total value of $8,926,931.20. Following the completion of the sale, the chairman now owns 3,550,381 shares in the company, valued at $264,822,918.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John C. Malone sold 285,320 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $74.95, for a total value of $21,384,734.00. Following the sale, the chairman now owns 3,670,061 shares of the company’s stock, valued at approximately $275,071,071.95. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 8,200 shares of company stock worth $267,200 and have sold 406,897 shares worth $30,376,669. Company insiders own 4.31% of the company’s stock.
Institutional Investors Weigh In On Formula One Group
Formula One Group Stock Up 0.6 %
FWONK opened at $68.49 on Thursday. Formula One Group has a fifty-two week low of $50.00 and a fifty-two week high of $76.15. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s fifty day moving average price is $69.03 and its two-hundred day moving average price is $63.30. The company has a market capitalization of $16.02 billion, a P/E ratio of 33.25 and a beta of 1.09.
About Formula One Group
Liberty Media Corp. engages in the operation of media, communications, and entertainment businesses. It operates through the following segments: Sirius XM Holdings, Formula 1. The Sirius XM Holdings segment refers to the complementary audio entertainment businesses, Sirius XM and Pandora. Sirius XM features music, sports, entertainment, comedy, talk, news, traffic, weather channels, and infotainment services.
- Get a free copy of the StockNews.com research report on Formula One Group (FWONK)
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