Formula One Group (NASDAQ:FWONA) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Formula One Group (NASDAQ:FWONA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $90.50.

Several analysts recently commented on the company. Susquehanna started coverage on Formula One Group in a report on Monday. They issued a "positive" rating and a $115.00 target price on the stock. Guggenheim restated a "buy" rating on shares of Formula One Group in a report on Monday, March 3rd. Wells Fargo & Company started coverage on Formula One Group in a research report on Monday, February 24th. They issued an "underweight" rating and a $83.00 price objective for the company. Finally, Seaport Res Ptn raised Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Saturday, March 15th.

Institutional Investors Weigh In On Formula One Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Formula One Group by 67.2% in the 4th quarter. Russell Investments Group Ltd. now owns 662 shares of the company's stock valued at $56,000 after buying an additional 266 shares during the last quarter. FNY Investment Advisers LLC lifted its position in shares of Formula One Group by 25.6% during the fourth quarter. FNY Investment Advisers LLC now owns 779 shares of the company's stock valued at $65,000 after purchasing an additional 159 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Formula One Group by 74.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company's stock worth $1,497,000 after purchasing an additional 7,811 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Formula One Group by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 59,343 shares of the company's stock worth $4,835,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 8.38% of the company's stock.

Formula One Group Stock Up 1.8 %

Shares of FWONA stock traded up $1.46 during trading hours on Tuesday, hitting $83.43. 68,277 shares of the company's stock traded hands, compared to its average volume of 111,432. The stock has a market cap of $20.80 billion, a PE ratio of 72.55 and a beta of 0.39. The stock's 50 day simple moving average is $78.89 and its 200 day simple moving average is $81.28. Formula One Group has a 12 month low of $61.27 and a 12 month high of $95.33.

Formula One Group (NASDAQ:FWONA - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($1.46). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, equities research analysts expect that Formula One Group will post 1.46 EPS for the current fiscal year.

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.