Formula One Group (NASDAQ:FWONK) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Formula One Group (NASDAQ:FWONK - Get Free Report) have earned an average rating of "Moderate Buy" from the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $95.33.

Several brokerages recently commented on FWONK. Seaport Res Ptn raised Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday. Wells Fargo & Company reduced their target price on Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. StockNews.com cut Formula One Group from a "hold" rating to a "sell" rating in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their target price on Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $102.00 target price on shares of Formula One Group in a research report on Friday, March 7th.

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Formula One Group Stock Performance

Shares of FWONK traded down $0.13 during mid-day trading on Friday, hitting $87.53. The company's stock had a trading volume of 1,093,166 shares, compared to its average volume of 1,166,397. Formula One Group has a one year low of $64.37 and a one year high of $102.33. The firm has a market capitalization of $21.82 billion, a PE ratio of 76.11 and a beta of 0.13. The stock's 50-day moving average is $93.65 and its two-hundred day moving average is $87.06.

Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) earnings per share 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. Analysts expect that Formula One Group will post 1.36 EPS for the current fiscal year.

Institutional Trading of Formula One Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Everence Capital Management Inc. acquired a new stake in shares of Formula One Group in the fourth quarter valued at $827,000. Hahn Capital Management LLC boosted its holdings in Formula One Group by 47.7% in the fourth quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock valued at $6,226,000 after acquiring an additional 21,699 shares during the last quarter. Greenwood Gearhart Inc. boosted its holdings in Formula One Group by 8.1% in the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company's stock valued at $13,640,000 after acquiring an additional 13,146 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in 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 during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Formula One Group by 3.0% in the third 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. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.