Formula One Group (NASDAQ:FWONK) Trading Up 0.1% - Should You Buy?

Formula One Group (NASDAQ:FWONK - Get Free Report)'s share price rose 0.1% during trading on Monday . The stock traded as high as $83.52 and last traded at $82.85. Approximately 252,156 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,331,392 shares. The stock had previously closed at $82.79.

Wall Street Analyst Weigh In

FWONK has been the subject of several recent research reports. 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. Wells Fargo & Company lowered their target price on Formula One Group from $83.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Seaport Res Ptn raised 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 research note on Tuesday, April 1st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $102.00 target price on shares of Formula One Group in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $95.33.

Formula One Group Stock Up 0.6 %

The company has a 50 day moving average of $87.21 and a 200 day moving average of $88.51. The stock has a market capitalization of $21.84 billion, a price-to-earnings ratio of 76.20 and a beta of 0.32.

Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) earnings per share 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 analyst estimates of $1.37 billion. On average, research analysts forecast that Formula One Group will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Formula One Group

A number of large investors have recently modified their holdings of FWONK. Public Employees Retirement System of Ohio boosted its position in 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 worth $37,529,000 after purchasing an additional 4,897 shares during the period. California State Teachers Retirement System lifted its stake in shares of 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 in the last quarter. Greenwood Gearhart Inc. boosted 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 worth $16,764,000 after buying an additional 4,761 shares during the period. Hahn Capital Management LLC grew its stake 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 in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Formula One Group by 1.0% during the 4th 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 period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

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.