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

Research analysts at Susquehanna began coverage on shares of Formula One Group (NASDAQ:FWONK - Get Free Report) in a research report issued on Monday, MarketBeat Ratings reports. The firm set a "positive" rating and a $115.00 price target on the stock. Susquehanna's target price would indicate a potential upside of 25.07% from the company's current price.

FWONK has been the subject of a number of other reports. 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. StockNews.com raised Formula One Group to a "sell" rating in a report on Tuesday, April 1st. Morgan Stanley dropped their price target on Formula One Group from $115.00 to $110.00 and set an "overweight" rating for the company in a research 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 research report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Formula One Group from $96.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.14.

Formula One Group Stock Up 2.3 %

Shares of Formula One Group stock traded up $2.03 during trading on Monday, reaching $91.95. The company's stock had a trading volume of 455,799 shares, compared to its average volume of 1,317,511. The business has a 50 day moving average price of $86.53 and a 200-day moving average price of $88.81. Formula One Group has a 12-month low of $68.43 and a 12-month high of $102.33. The company has a market capitalization of $22.92 billion, a P/E ratio of 79.95 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 business had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $1.37 billion. Research analysts predict that Formula One Group will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hahn Capital Management LLC increased its stake in shares of Formula One Group by 47.7% during the 4th quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock valued at $6,226,000 after acquiring an additional 21,699 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Formula One Group during the fourth quarter worth approximately $827,000. California State Teachers Retirement System raised its stake in Formula One Group by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock worth $32,518,000 after purchasing an additional 6,297 shares during the period. Allstate Corp acquired a new position in shares of Formula One Group in the 4th quarter valued at $571,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Formula One Group by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock valued at $37,529,000 after buying an additional 4,897 shares during the period. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.