Formula One Group (NASDAQ:FWONK) Upgraded to Strong-Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Formula One Group (NASDAQ:FWONK) from a hold rating to a strong-buy rating in a research note issued to investors on Sunday,Zacks.com reports. Seaport Res Ptn also issued estimates for Formula One Group’s Q1 2026 earnings at ($0.15) EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.41 EPS and Q4 2026 earnings at ($0.08) EPS.

Several other research firms also recently issued reports on FWONK. Wells Fargo & Company decreased their price objective 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. Morgan Stanley decreased their price target on shares of Formula One Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded shares of Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. raised their price target on shares of Formula One Group from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $102.00 price target on shares of Formula One Group in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.33.

Formula One Group Trading Up 2.0 %

Shares of Formula One Group stock opened at $87.66 on Friday. Formula One Group has a 12-month low of $64.37 and a 12-month high of $102.33. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 76.23 and a beta of 0.13. The firm’s 50 day simple moving average is $93.65 and its two-hundred day simple moving average is $87.06.

Formula One Group (NASDAQ:FWONK) last released its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($1.45). The firm had revenue of $20.71 billion for the quarter, compared to analysts’ expectations of $1.37 billion. On average, sell-side analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Formula One Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC lifted its holdings in shares of Formula One Group by 3.0% during the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock worth $538,000 after acquiring an additional 203 shares during the period. Allstate Corp purchased a new position in shares of Formula One Group during the 4th quarter worth about $571,000. Everence Capital Management Inc. purchased a new position in shares of Formula One Group during the 4th quarter worth about $827,000. Janney Montgomery Scott LLC increased its position in Formula One Group by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company’s stock worth $2,560,000 after purchasing an additional 287 shares in the last quarter. Finally, Hahn Capital Management LLC increased its position in Formula One Group by 47.7% during the 4th quarter. Hahn Capital Management LLC now owns 67,197 shares of the company’s stock worth $6,226,000 after purchasing an additional 21,699 shares in the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

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.