Formula One Group (NASDAQ:FWONK) Coverage Initiated by Analysts at Susquehanna

Investment analysts at Susquehanna began coverage on shares of Formula One Group (NASDAQ:FWONK - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The firm set a "positive" rating and a $115.00 price target on the stock. Susquehanna's price objective indicates a potential upside of 30.12% from the company's previous close.

Several other brokerages have also weighed in on FWONK. StockNews.com raised Formula One Group to a "sell" rating in a research report on Tuesday, April 1st. Wells Fargo & Company lowered their price objective on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. Seaport Res Ptn raised Formula One Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 16th. Morgan Stanley lowered their price target on Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Formula One Group from $96.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $98.14.

Formula One Group Stock Performance

Formula One Group stock opened at $88.38 on Monday. The stock has a market capitalization of $22.03 billion, a P/E ratio of 76.87 and a beta of 0.32. Formula One Group has a 1 year low of $68.43 and a 1 year high of $102.33. The company's fifty day moving average price is $87.21 and its 200 day moving average price is $88.67.

Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its quarterly 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 company had revenue of $20.71 billion during the quarter, compared to analysts' expectations of $1.37 billion. Sell-side analysts predict that Formula One Group will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Formula One Group

A number of institutional investors have recently modified their holdings of FWONK. Public Employees Retirement System of Ohio lifted its holdings in Formula One Group by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock worth $37,529,000 after buying an additional 4,897 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Formula One Group by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after buying an additional 6,297 shares during the last quarter. Greenwood Gearhart Inc. grew its position in shares of Formula One Group by 2.7% during the 4th quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock valued at $16,764,000 after buying an additional 4,761 shares during the last quarter. Hahn Capital Management LLC raised its stake 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, Janney Montgomery Scott LLC grew its holdings in shares of Formula One Group by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock valued at $2,560,000 after purchasing an additional 287 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Formula One Group Company 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.

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