Greenwood Gearhart Inc. Grows Stock Holdings in Formula One Group (NASDAQ:FWONK)

Greenwood Gearhart Inc. grew its stake in shares of Formula One Group (NASDAQ:FWONK - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,921 shares of the company's stock after acquiring an additional 4,761 shares during the period. Formula One Group comprises 1.2% of Greenwood Gearhart Inc.'s investment portfolio, making the stock its 26th biggest position. Greenwood Gearhart Inc. owned approximately 0.07% of Formula One Group worth $16,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FWONK. Allstate Corp purchased a new stake in shares of Formula One Group during the 4th quarter valued at approximately $571,000. Everence Capital Management Inc. purchased a new position in Formula One Group during the fourth quarter valued at approximately $827,000. Janney Montgomery Scott LLC increased 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 worth $2,560,000 after acquiring an additional 287 shares during the period. Finally, Hahn Capital Management LLC lifted 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 worth $6,226,000 after purchasing an additional 21,699 shares in the last quarter. 92.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FWONK. StockNews.com raised shares of Formula One Group to a "sell" rating in a report on Tuesday, April 1st. Morgan Stanley decreased their target price on 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. Rosenblatt Securities reissued a "buy" rating and set a $102.00 price objective on shares of Formula One Group in a report on Friday, March 7th. 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. Finally, Wells Fargo & Company cut their price objective on Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $95.33.

Formula One Group Stock Up 3.8 %

Shares of FWONK traded up $3.02 during mid-day trading on Friday, hitting $82.79. 1,238,805 shares of the company's stock traded hands, compared to its average volume of 1,256,227. The business's 50-day moving average price is $88.58 and its 200-day moving average price is $88.25. Formula One Group has a 1 year low of $67.69 and a 1 year high of $102.33. The firm has a market capitalization of $20.64 billion, a P/E ratio of 71.99 and a beta of 0.32.

Formula One Group (NASDAQ:FWONK - Get Free Report) last posted its 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 firm had revenue of $20.71 billion for the quarter, compared to analysts' expectations of $1.37 billion. Sell-side analysts anticipate that Formula One Group will post 1.36 earnings per share for the current fiscal year.

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.