Formula One Group (NASDAQ:FWONA) Now Covered by Susquehanna

Equities research analysts at Susquehanna initiated coverage on shares of Formula One Group (NASDAQ:FWONA - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The firm set a "positive" rating and a $115.00 price target on the stock. Susquehanna's price target points to a potential upside of 37.84% from the stock's current price.

FWONA has been the subject of several other research reports. Wells Fargo & Company assumed coverage on Formula One Group in a research note on Monday, February 24th. They set an "underweight" rating and a $83.00 target price for the company. Seaport Res Ptn upgraded shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, March 15th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Formula One Group in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Formula One Group has an average rating of "Moderate Buy" and a consensus target price of $90.50.

Formula One Group Stock Performance

Shares of NASDAQ FWONA traded up $1.46 during trading on Monday, hitting $83.43. 68,277 shares of the company were exchanged, compared to its average volume of 111,432. Formula One Group has a 12-month low of $61.27 and a 12-month high of $95.33. The company has a fifty day moving average price of $78.81 and a 200-day moving average price of $81.35. The firm has a market capitalization of $20.80 billion, a PE ratio of 72.55 and a beta of 0.40.

Formula One Group (NASDAQ:FWONA - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($1.46). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.37 billion. Research analysts anticipate that Formula One Group will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of Formula One Group

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

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.