Formula One Group (NASDAQ:FWONK) Stock Price Up 0.5% - Time to Buy?

Formula One Group (NASDAQ:FWONK - Get Free Report)'s stock price was up 0.5% on Monday . The company traded as high as $88.63 and last traded at $88.08. Approximately 209,320 shares traded hands during trading, a decline of 83% from the average daily volume of 1,258,423 shares. The stock had previously closed at $87.63.

Analyst Ratings Changes

Several brokerages have recently issued reports on FWONK. JPMorgan Chase & Co. lifted their price target on Formula One Group from $96.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Seaport Res Ptn raised Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 16th. Wells Fargo & Company decreased 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. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a report on Tuesday, April 1st. Finally, Susquehanna initiated coverage on shares of Formula One Group in a research note on Monday. They set a "positive" rating and a $115.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $98.14.

Formula One Group Stock Down 0.7 %

The company has a market capitalization of $22.10 billion, a PE ratio of 77.11 and a beta of 0.32. The stock's fifty day moving average price is $86.83 and its two-hundred day moving average price is $88.73.

Formula One Group (NASDAQ:FWONK - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.37 billion. On average, equities research analysts forecast that Formula One Group will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Formula One Group

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake 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 in the last quarter. Praxis Investment Management Inc. grew its stake in Formula One Group by 10.7% in the first quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock worth $888,000 after purchasing an additional 950 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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 buying an additional 2,013 shares during the period. Greenwood Gearhart Inc. grew its holdings in 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 purchasing an additional 4,761 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake 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 valued at $37,529,000 after purchasing an additional 4,897 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.

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.