StockNews.com upgraded shares of Formula One Group (NASDAQ:FWONK - Free Report) to a sell rating in a report published on Tuesday morning.
Other research analysts have also issued research reports about the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $102.00 price objective on shares of Formula One Group in a report on Friday, March 7th. Morgan Stanley cut their price target on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. 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, JPMorgan Chase & Co. boosted their price target on Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $95.33.
Read Our Latest Report on FWONK
Formula One Group Stock Performance
Formula One Group stock traded down $6.21 during trading hours on Tuesday, reaching $80.50. 2,259,507 shares of the stock were exchanged, compared to its average volume of 1,230,542. The stock has a market cap of $20.07 billion, a P/E ratio of 70.00 and a beta of 0.32. The firm's 50 day moving average is $92.57 and its 200 day moving average is $88.10. Formula One Group has a 52-week low of $66.37 and a 52-week high of $102.33.
Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $1.37 billion. Equities research analysts expect that Formula One Group will post 1.36 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of FWONK. MetLife Investment Management LLC grew its holdings in Formula One Group by 3.0% during the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company's stock valued at $538,000 after buying an additional 203 shares during the last quarter. Greenwood Gearhart Inc. lifted its position in shares of 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 in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Formula One Group during the fourth quarter valued at $827,000. Janney Montgomery Scott LLC increased its position 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 worth $2,560,000 after purchasing an additional 287 shares in the last quarter. Finally, Hahn Capital Management LLC raised its stake in 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 purchasing an additional 21,699 shares during the last quarter. 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.
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