Formula One Group (NASDAQ:FWONK) Receives Average Rating of "Moderate Buy" from Brokerages

Formula One Group (NASDAQ:FWONK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $95.33.

Several equities analysts have recently weighed in on FWONK shares. StockNews.com upgraded Formula One Group to a "sell" rating in a research report on Tuesday, April 1st. Wells Fargo & Company decreased their price target on 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. JPMorgan Chase & Co. raised their price objective 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. Seaport Res Ptn raised shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 16th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $102.00 price target on shares of Formula One Group in a report on Friday, March 7th.

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Institutional Investors Weigh In On Formula One Group

A number of large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Formula One Group by 1.2% in the 4th 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 last quarter. California State Teachers Retirement System grew its stake in shares of Formula One Group by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock valued at $32,518,000 after buying an additional 6,297 shares during the last quarter. Greenwood Gearhart Inc. increased its holdings in shares of Formula One Group by 2.7% in the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock worth $16,764,000 after buying an additional 4,761 shares during the period. Hahn Capital Management LLC lifted its stake in shares of Formula One Group by 47.7% in the 4th 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. Finally, Janney Montgomery Scott LLC boosted its holdings in Formula One Group by 1.0% during the 4th 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 period. Hedge funds and other institutional investors own 92.26% of the company's stock.

Formula One Group Stock Down 1.5 %

Formula One Group stock traded down $1.18 during midday trading on Wednesday, reaching $77.19. The stock had a trading volume of 1,574,783 shares, compared to its average volume of 1,246,968. The firm has a market capitalization of $19.24 billion, a PE ratio of 67.12 and a beta of 0.32. Formula One Group has a 12 month low of $66.37 and a 12 month high of $102.33. The firm's 50-day moving average price is $90.39 and its 200 day moving average price is $88.12.

Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its quarterly 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 company had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $1.37 billion. Equities research analysts expect that Formula One Group will post 1.36 EPS for the current year.

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.