Allstate Corp bought a new position in shares of Formula One Group (NASDAQ:FWONK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,166 shares of the company's stock, valued at approximately $571,000.
Other hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC grew its holdings in Formula One Group by 3.0% in the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock valued at $538,000 after buying an additional 203 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Formula One Group in the fourth quarter valued at about $827,000. Janney Montgomery Scott LLC grew its stake in shares of Formula One Group by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock valued at $2,560,000 after acquiring an additional 287 shares in 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. Finally, Greenwood Gearhart Inc. raised its stake in Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock worth $13,640,000 after purchasing an additional 13,146 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.
Formula One Group Stock Performance
Shares of Formula One Group stock traded down $6.21 during trading on Friday, reaching $80.50. 2,259,507 shares of the company's stock were exchanged, compared to its average volume of 1,230,542. The firm's 50-day moving average price is $92.57 and its 200 day moving average price is $88.18. The company has a market cap of $20.07 billion, a P/E ratio of 70.00 and a beta of 0.32. Formula One Group has a 1-year low of $66.37 and a 1-year high of $102.33.
Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($1.03) EPS 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. As a group, equities research analysts predict that Formula One Group will post 1.36 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. raised their price objective on Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Morgan Stanley dropped their price objective on Formula One Group from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and set a $102.00 target price on shares of Formula One Group in a report on Friday, March 7th. Finally, Wells Fargo & Company dropped their price target on 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.33.
Check Out Our Latest Stock Report on FWONK
About Formula One Group
(
Free Report)
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.
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