Formula One Group (NASDAQ:FWONK) Upgraded at StockNews.com

Formula One Group (NASDAQ:FWONK - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a research note issued to investors on Friday.

Several other equities analysts also recently commented on the company. Seaport Res Ptn upgraded Formula One Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 16th. Wells Fargo & Company cut their price target on Formula One Group from $83.00 to $80.00 and set an "underweight" rating for the company in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $102.00 price objective on shares of Formula One Group in a research note on Friday, March 7th. Morgan Stanley cut their target price on shares of Formula One Group from $115.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Susquehanna initiated coverage on shares of Formula One Group in a research report on Monday. They issued a "positive" rating and a $115.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.14.

Formula One Group Stock Performance

FWONK traded up $1.48 during mid-day trading on Friday, reaching $91.40. 1,152,926 shares of the stock were exchanged, compared to its average volume of 1,267,897. The company has a 50 day moving average price of $86.53 and a two-hundred day moving average price of $88.81. The stock has a market capitalization of $22.78 billion, a PE ratio of 79.48 and a beta of 0.32. Formula One Group has a 1 year low of $68.43 and a 1 year high of $102.33.

Formula One Group (NASDAQ:FWONK - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($1.45). The firm had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $1.37 billion. Sell-side analysts expect that Formula One Group will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Formula One Group

A number of institutional investors and hedge funds have recently made changes to their positions in FWONK. Public Employees Retirement System of Ohio grew its position in Formula One Group by 1.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock worth $37,529,000 after acquiring an additional 4,897 shares in the last quarter. California State Teachers Retirement System lifted its stake in Formula One Group by 1.8% in 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 during the last quarter. Greenwood Gearhart Inc. lifted its stake 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. Hahn Capital Management LLC grew its stake in shares of Formula One Group by 47.7% during 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, Janney Montgomery Scott LLC increased its holdings 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 worth $2,560,000 after buying an additional 287 shares during the period. Hedge funds and other institutional investors own 92.26% of the company's stock.

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.

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