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

Formula One Group (NASDAQ:FWONK) was upgraded by analysts at Seaport Res Ptn 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.

A number of other research firms also recently commented on FWONK. Rosenblatt Securities reissued a “buy” rating and set a $102.00 price objective on shares of Formula One Group in a report on Friday, March 7th. StockNews.com downgraded shares of Formula One Group from a “hold” rating to a “sell” rating in a report on Monday, November 18th. Wells Fargo & Company decreased their price objective on shares of Formula One Group from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Formula One Group from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Finally, Morgan Stanley dropped their target price on shares of Formula One Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Formula One Group presently has a consensus rating of “Moderate Buy” and an average price target of $95.33.

Formula One Group Trading Up 2.0 %

Shares of FWONK opened at $87.66 on Friday. The firm’s fifty day simple moving average is $93.65 and its 200-day simple moving average is $87.06. Formula One Group has a twelve month low of $64.37 and a twelve 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.

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

Hedge Funds Weigh In On Formula One Group

Several large investors have recently made changes to their positions in FWONK. Public Employees Retirement System of Ohio lifted its stake in Formula One Group by 1.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company’s stock valued at $37,529,000 after buying an additional 4,897 shares in the last quarter. Greenwood Gearhart Inc. grew its holdings in Formula One Group by 2.7% during the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company’s stock valued at $16,764,000 after purchasing an additional 4,761 shares during the last quarter. Hahn Capital Management LLC increased its position in Formula One Group by 47.7% during the fourth quarter. Hahn Capital Management LLC now owns 67,197 shares of the company’s stock worth $6,226,000 after acquiring an additional 21,699 shares during the period. Janney Montgomery Scott LLC increased its position in Formula One Group by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company’s stock worth $2,560,000 after acquiring an additional 287 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in Formula One Group in the 4th quarter valued at $827,000. Institutional investors own 92.26% of the company’s stock.

About Formula One Group

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.