Formula One Group (NASDAQ:FWONK - Get Free Report) shot up 3.1% on Tuesday . The company traded as high as $83.79 and last traded at $81.55. 432,857 shares were traded during trading, a decline of 65% from the average session volume of 1,230,978 shares. The stock had previously closed at $79.07.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Seaport Res Ptn upgraded shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 16th. JPMorgan Chase & Co. increased their target price on shares of Formula One Group from $96.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Wells Fargo & Company lowered their price target on shares of 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $102.00 price objective on shares of Formula One Group in a research note on Friday, March 7th. Finally, StockNews.com raised Formula One Group to a "sell" rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.33.
Check Out Our Latest Research Report on FWONK
Formula One Group Price Performance
The firm's 50 day moving average price is $90.39 and its 200 day moving average price is $88.12. The stock has a market capitalization of $19.24 billion, a P/E ratio of 67.12 and a beta of 0.32.
Formula One Group (NASDAQ:FWONK - Get Free Report) last released 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 business had revenue of $20.71 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities research analysts forecast that Formula One Group will post 1.36 earnings per share for the current year.
Institutional Investors Weigh In On Formula One Group
Several institutional investors and hedge funds have recently modified their holdings of FWONK. Versant Capital Management Inc raised its stake in Formula One Group by 1,378.8% in the first quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock worth $194,000 after buying an additional 2,013 shares in the last quarter. Allstate Corp bought a new stake in shares of Formula One Group during the fourth quarter valued at approximately $571,000. Everence Capital Management Inc. purchased a new stake in Formula One Group in the fourth quarter worth $827,000. Janney Montgomery Scott LLC raised 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 worth $2,560,000 after purchasing an additional 287 shares in the last quarter. Finally, Hahn Capital Management LLC lifted 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 valued at $6,226,000 after buying an additional 21,699 shares during the period. 92.26% of the stock is owned by hedge funds and other institutional investors.
About Formula One Group
(
Get 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.
Read More
Before you consider Formula One Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Formula One Group wasn't on the list.
While Formula One Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
