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

Seaport Res Ptn upgraded shares of Formula One Group (NASDAQ:FWONK) from a hold rating to a strong-buy rating in a research note published 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 equities analysts have also recently commented on FWONK. JPMorgan Chase & Co. increased their target price on Formula One Group from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $102.00 price objective on shares of Formula One Group in a research note on Friday, March 7th. Morgan Stanley reduced their price objective on 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. Wells Fargo & Company reduced their price objective on Formula One Group from $83.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Formula One Group Stock Up 2.0 %

Shares of NASDAQ:FWONK opened at $87.66 on Friday. Formula One Group has a 52-week low of $64.37 and a 52-week high of $102.33. The company has a 50 day moving average of $93.65 and a two-hundred day moving average of $87.06. The company 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 released its earnings results on Thursday, February 27th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of $0.42 by ($1.45). The firm had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $1.37 billion. On average, equities analysts anticipate that Formula One Group will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings 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 worth $37,529,000 after acquiring an additional 4,897 shares during the period. 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 worth $16,764,000 after acquiring an additional 4,761 shares during the period. Hahn Capital Management LLC grew its holdings 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 grew its holdings 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. acquired a new position in Formula One Group during the fourth quarter worth about $827,000. 92.26% of the stock is owned by institutional investors and hedge funds.

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.