Formula One Group (NASDAQ:FWONK) Stock Holdings Decreased by Fairview Capital Investment Management LLC

Fairview Capital Investment Management LLC reduced its holdings in shares of Formula One Group (NASDAQ:FWONK - Free Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 770,225 shares of the company's stock after selling 7,528 shares during the period. Formula One Group makes up 3.7% of Fairview Capital Investment Management LLC's investment portfolio, making the stock its 7th largest holding. Fairview Capital Investment Management LLC owned about 0.31% of Formula One Group worth $71,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FWONK. Allstate Corp acquired a new position in shares of Formula One Group in the fourth quarter valued at approximately $571,000. Janney Montgomery Scott LLC raised its position in shares of 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 buying an additional 287 shares during the last quarter. Hahn Capital Management LLC raised its position in shares of Formula One Group by 47.7% in the fourth quarter. Hahn Capital Management LLC now owns 67,197 shares of the company's stock valued at $6,226,000 after buying an additional 21,699 shares during the last quarter. Finally, Greenwood Gearhart Inc. raised its position in shares of Formula One Group by 2.7% in the fourth quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company's stock valued at $16,764,000 after buying an additional 4,761 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FWONK shares. Wells Fargo & Company dropped their price target on shares of Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Susquehanna initiated coverage on shares of Formula One Group in a research note on Monday, April 28th. They issued a "positive" rating and a $115.00 target price for the company. Rosenblatt Securities reiterated a "buy" rating and set a $102.00 price objective on shares of Formula One Group in a research note on Friday, March 7th. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a research report on Monday. Finally, Seaport Res Ptn upgraded Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.14.

Formula One Group Price Performance

Shares of FWONK stock traded up $0.93 during trading hours on Wednesday, reaching $97.41. The stock had a trading volume of 750,547 shares, compared to its average volume of 1,255,853. Formula One Group has a twelve month low of $69.09 and a twelve month high of $102.33. The firm has a 50-day simple moving average of $86.52 and a 200-day simple moving average of $89.64. The firm has a market capitalization of $21.72 billion, a PE ratio of 84.71 and a beta of 0.33.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.23. The company had revenue of $447.00 million for the quarter, compared to analyst estimates of $440.80 million. On average, equities analysts anticipate that Formula One Group will post 1.36 earnings per share for the current 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.