Formula One Group (NASDAQ:FWONK) Stock Price Down 0.1% - Should You Sell?

Formula One Group (NASDAQ:FWONK - Get Free Report)'s share price dropped 0.1% during mid-day trading on Friday . The stock traded as low as $86.51 and last traded at $87.02. Approximately 149,482 shares were traded during trading, a decline of 89% from the average daily volume of 1,322,384 shares. The stock had previously closed at $87.08.

Wall Street Analysts Forecast Growth

FWONK has been the topic of several recent analyst reports. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a report on Tuesday, April 1st. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. lifted 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. Rosenblatt Securities reiterated a "buy" rating and issued a $102.00 target price on shares of Formula One Group in a report on Friday, March 7th. Finally, 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. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Formula One Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.33.

Formula One Group Trading Up 0.6 %

The firm's 50-day simple moving average is $87.21 and its two-hundred day simple moving average is $88.67. The stock has a market capitalization of $21.84 billion, a PE ratio of 76.20 and a beta of 0.32.

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 the consensus estimate of $0.42 by ($1.45). The business had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, research analysts expect that Formula One Group will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Everence Capital Management Inc. acquired a new position in Formula One Group in the fourth quarter valued at about $827,000. Janney Montgomery Scott LLC boosted its holdings in shares of Formula One Group by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after buying an additional 287 shares in the last quarter. Hahn Capital Management LLC increased its holdings in shares of 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 acquiring an additional 21,699 shares in the last quarter. Allstate Corp acquired a new stake in shares of Formula One Group in the 4th quarter worth about $571,000. Finally, Greenwood Gearhart Inc. boosted its holdings in Formula One Group by 2.7% during the 4th quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock worth $16,764,000 after acquiring an additional 4,761 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.