Formula One Group (NASDAQ:FWONK - Get Free Report)'s stock price shot up 0.6% during mid-day trading on Tuesday . The stock traded as high as $88.64 and last traded at $88.34. 158,566 shares changed hands during trading, a decline of 87% from the average session volume of 1,257,141 shares. The stock had previously closed at $87.82.
Wall Street Analyst Weigh In
Several research firms have recently commented on FWONK. JPMorgan Chase & Co. lifted their target price 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 upgraded shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 16th. Rosenblatt Securities reissued a "buy" rating and set a $102.00 price target on shares of Formula One Group in a research note on Friday, March 7th. Wells Fargo & Company reduced 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 note on Friday, February 28th. Finally, StockNews.com upgraded shares of Formula One Group to a "sell" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Formula One Group has an average rating of "Moderate Buy" and a consensus target price of $98.14.
View Our Latest Analysis on FWONK
Formula One Group Stock Up 1.6 %
The company has a market capitalization of $22.78 billion, a P/E ratio of 79.48 and a beta of 0.33. The firm has a fifty day simple moving average of $86.47 and a 200-day simple moving average of $88.89.
Formula One Group (NASDAQ:FWONK - Get Free Report) last announced 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 analysts' expectations of $1.37 billion. On average, sell-side analysts predict that Formula One Group will post 1.36 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of FWONK. Versant Capital Management Inc boosted its position in Formula One Group by 1,378.8% during the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock worth $194,000 after acquiring an additional 2,013 shares during the last quarter. Allstate Corp acquired a new position in Formula One Group during the fourth quarter worth $571,000. Everence Capital Management Inc. bought a new position in Formula One Group in the fourth quarter valued at $827,000. Praxis Investment Management Inc. increased its stake in Formula One Group by 10.7% in the 1st quarter. Praxis Investment Management Inc. now owns 9,870 shares of the company's stock valued at $888,000 after buying an additional 950 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Formula One Group by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company's stock worth $2,560,000 after buying an additional 287 shares in the last quarter. 92.26% of the stock is currently owned by institutional investors.
About Formula One Group
(
Get Free Report)
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.
Featured Articles
Before you consider Formula One Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Formula One Group wasn't on the list.
While Formula One Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
