Formula One Group (NASDAQ:FWONK) Shares Down 0.1% - Time to Sell?

Formula One Group (NASDAQ:FWONK - Get Free Report) shares fell 0.1% during trading on Friday . The stock traded as low as $86.51 and last traded at $87.02. 149,482 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,322,384 shares. The stock had previously closed at $87.08.

Analysts Set New Price Targets

FWONK has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Formula One Group from $96.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Seaport Res Ptn raised shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 16th. StockNews.com upgraded shares of Formula One Group to a "sell" rating in a research note on Tuesday, April 1st. Morgan Stanley dropped their price objective on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $102.00 price target on shares of Formula One Group in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.14.

Formula One Group Trading Up 1.7 %

The company has a market capitalization of $22.25 billion, a PE ratio of 77.64 and a beta of 0.32. The stock's fifty day moving average is $87.00 and its two-hundred day moving average 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) earnings per share 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. As a group, analysts anticipate that Formula One Group will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Formula One Group

A number of large investors have recently made changes to their positions in FWONK. Everence Capital Management Inc. purchased a new stake in shares of Formula One Group in the fourth quarter worth about $827,000. Janney Montgomery Scott LLC grew its stake in Formula One Group by 1.0% in 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. Hahn Capital Management LLC raised its position 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 buying an additional 21,699 shares in the last quarter. Allstate Corp bought a new stake in shares of Formula One Group during the 4th quarter worth $571,000. Finally, Greenwood Gearhart Inc. grew its position 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 acquiring an additional 4,761 shares in the last quarter. 92.26% of the stock is owned by 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.