Hahn Capital Management LLC Has $6.23 Million Stake in Formula One Group (NASDAQ:FWONK)

Hahn Capital Management LLC increased its stake in shares of Formula One Group (NASDAQ:FWONK) by 47.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 67,197 shares of the company’s stock after acquiring an additional 21,699 shares during the period. Formula One Group accounts for about 2.7% of Hahn Capital Management LLC’s holdings, making the stock its 20th largest position. Hahn Capital Management LLC’s holdings in Formula One Group were worth $6,226,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Lountzis Asset Management LLC increased its holdings in shares of Formula One Group by 17.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after acquiring an additional 864 shares during the last quarter. MetLife Investment Management LLC increased 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 valued at $538,000 after acquiring an additional 203 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Formula One Group in the 4th quarter valued at approximately $827,000. Janney Montgomery Scott LLC grew its holdings in Formula One Group by 16.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after buying an additional 3,958 shares during the last quarter. Finally, Greenwood Gearhart Inc. grew its holdings in Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock valued at $13,640,000 after buying an additional 13,146 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Formula One Group Trading Down 3.1 %

Shares of NASDAQ:FWONK opened at $92.04 on Friday. Formula One Group has a 1-year low of $64.37 and a 1-year high of $102.33. The firm has a market capitalization of $22.89 billion, a PE ratio of 80.04 and a beta of 0.11. The business’s 50 day moving average is $94.81 and its 200-day moving average is $85.93.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FWONK. Morgan Stanley raised Formula One Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $95.00 to $115.00 in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $102.00 target price on shares of Formula One Group in a report on Wednesday. Wells Fargo & Company raised Formula One Group to a “strong sell” rating in a report on Friday, February 21st. Seaport Res Ptn lowered Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered Formula One Group from a “hold” rating to a “sell” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.00.

Insider Transactions at Formula One Group

In related news, CEO Gregory B. Maffei sold 35,463 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the completion of the transaction, the chief executive officer now owns 1,240,785 shares in the company, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.31% of the stock is owned by insiders.

Formula One Group 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.