What is Seaport Res Ptn’s Estimate for FWONK Q4 Earnings?

Formula One Group (NASDAQ:FWONK) – Research analysts at Seaport Res Ptn increased their Q4 2024 EPS estimates for Formula One Group in a report issued on Thursday, November 7th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $0.62 per share for the quarter, up from their prior estimate 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.

Other analysts have also recently issued reports about the company. StockNews.com upgraded Formula One Group to a “sell” rating in a report on Friday, November 8th. Rosenblatt Securities boosted their target price on shares of Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group initiated coverage on shares of Formula One Group in a research note on Thursday, October 17th. They set a “neutral” rating and a $85.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Formula One Group currently has an average rating of “Hold” and an average target price of $88.25.

Formula One Group Stock Down 0.6 %

NASDAQ FWONK opened at $80.96 on Monday. Formula One Group has a twelve month low of $61.23 and a twelve month high of $85.60. The business’s fifty day moving average is $78.27 and its 200 day moving average is $75.76. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 76.38 and a beta of 0.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FWONK. Beach Investment Counsel Inc. PA bought a new position in Formula One Group in the 2nd quarter valued at $48,000. Lountzis Asset Management LLC grew its position in Formula One Group by 17.0% during the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after buying an additional 864 shares during the period. Janney Montgomery Scott LLC increased its holdings in Formula One Group by 13.6% during the first quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock worth $1,378,000 after buying an additional 2,514 shares during the last quarter. Finally, Hahn Capital Management LLC raised its position in Formula One Group by 33.5% in the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after acquiring an additional 17,219 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Formula One Group

In other news, insider Renee L. Wilm sold 19,202 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Renee L. Wilm sold 19,202 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $73.80, for a total value of $738,811.80. 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.

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.