Formula One Group (NASDAQ:FWONK) Earns Positive Rating from Analysts at Susquehanna

Stock analysts at Susquehanna started coverage on shares of Formula One Group (NASDAQ:FWONK - Get Free Report) in a research report issued on Monday, MarketBeat.com reports. The firm set a "positive" rating and a $115.00 price target on the stock. Susquehanna's target price points to a potential upside of 29.69% from the stock's current price.

FWONK has been the subject of a number of other research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $102.00 target price on shares of Formula One Group in a research note on Friday, March 7th. Seaport Res Ptn raised Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 16th. JPMorgan Chase & Co. increased their target price on Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Wells Fargo & Company cut their price target 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. Finally, StockNews.com raised shares of Formula One Group to a "sell" rating in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.14.

Formula One Group Stock Down 0.7 %

NASDAQ:FWONK traded down $0.61 during trading hours on Monday, reaching $88.67. The company had a trading volume of 1,433,410 shares, compared to its average volume of 1,265,357. The stock has a 50-day moving average of $86.83 and a two-hundred day moving average of $88.73. Formula One Group has a one year low of $68.43 and a one year high of $102.33. The firm has a market capitalization of $22.10 billion, a PE ratio of 77.11 and a beta of 0.32.

Formula One Group (NASDAQ:FWONK - Get Free Report) last issued 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 the consensus estimate of $1.37 billion. As a group, sell-side analysts expect that Formula One Group will post 1.36 earnings per share for the current year.

Institutional Trading of Formula One Group

A number of institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in shares of Formula One Group by 1,378.8% during the first quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock worth $194,000 after purchasing an additional 2,013 shares in the last quarter. Allstate Corp acquired a new stake in Formula One Group during the 4th quarter worth $571,000. Everence Capital Management Inc. bought a new position in Formula One Group during the fourth quarter worth about $827,000. Praxis Investment Management Inc. lifted its holdings in Formula One Group by 10.7% during the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock worth $888,000 after acquiring an additional 950 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Formula One Group by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock valued at $2,560,000 after acquiring an additional 287 shares during the period. 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.