Formula One Group (NASDAQ:FWONK) Trading Up 0.1% - What's Next?

Formula One Group (NASDAQ:FWONK - Get Free Report) shares shot up 0.1% during mid-day trading on Monday . The stock traded as high as $83.52 and last traded at $82.85. 252,156 shares traded hands during trading, a decline of 81% from the average session volume of 1,331,392 shares. The stock had previously closed at $82.79.

Wall Street Analyst Weigh In

FWONK has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Formula One Group from $83.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Morgan Stanley dropped their price objective on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Seaport Res Ptn upgraded shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 16th. JPMorgan Chase & Co. increased their price target on shares of Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded shares of 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 given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Formula One Group presently has a consensus rating of "Moderate Buy" and an average target price of $95.33.

Formula One Group Stock Performance

The company has a market cap of $21.60 billion, a price-to-earnings ratio of 75.35 and a beta of 0.32. The firm has a fifty day moving average price of $87.87 and a 200 day moving average price of $88.35.

Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($1.45). The company had revenue of $20.71 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, analysts expect that Formula One Group will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of 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 acquiring an additional 2,013 shares during the period. Allstate Corp bought a new position in shares of Formula One Group in the fourth quarter worth $571,000. Everence Capital Management Inc. bought a new position in shares of Formula One Group in the fourth quarter worth $827,000. Praxis Investment Management Inc. boosted its holdings in shares of Formula One Group by 10.7% in the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock worth $888,000 after acquiring an additional 950 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 worth $2,560,000 after purchasing an additional 287 shares in the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

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.