Formula One Group (NASDAQ:FWONK – Get Free Report) saw a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 4,360,000 shares, a decrease of 11.4% from the July 31st total of 4,920,000 shares. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 3.2 days.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on FWONK shares. Morgan Stanley reduced their price target on shares of Formula One Group from $83.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Evercore ISI lifted their target price on Formula One Group from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. Finally, StockNews.com upgraded Formula One Group to a “sell” rating in a report on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Formula One Group currently has an average rating of “Hold” and an average target price of $84.00.
Check Out Our Latest Research Report on FWONK
Insider Transactions at Formula One Group
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in FWONK. Russell Investments Group Ltd. lifted its holdings in Formula One Group by 156.3% during the 4th quarter. Russell Investments Group Ltd. now owns 71,618 shares of the company’s stock valued at $4,522,000 after purchasing an additional 43,675 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Formula One Group during the 4th quarter worth about $1,167,000. Hahn Capital Management LLC boosted its holdings in shares of Formula One Group by 33.5% during the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after buying an additional 17,219 shares during the period. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Formula One Group during the second quarter worth approximately $48,000. 92.26% of the stock is owned by institutional investors and hedge funds.
Formula One Group Trading Up 0.4 %
NASDAQ:FWONK opened at $78.05 on Tuesday. The stock has a market capitalization of $16.38 billion and a PE ratio of 56.97. Formula One Group has a 1-year low of $60.95 and a 1-year high of $82.23. The firm has a fifty day simple moving average of $76.64 and a 200 day simple moving average of $72.37.
Formula One Group (NASDAQ:FWONK – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $960.45 million. On average, equities analysts predict that Formula One Group will post 0.98 earnings per share for the current fiscal year.
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.
Further Reading
- Five stocks we like better than Formula One Group
- Why Are Stock Sectors Important to Successful Investing?
- Don’t Count Out CrowdStrike Yet: Key Insights from Q2 Earnings
- What is the Nikkei 225 index?
- Why Lululemon’s Setback Could Be Your Next Big Win
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- 3 Best Dividend Stocks to Buy as Interest Rates Fall
Receive News & Ratings for Formula One Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Formula One Group and related companies with MarketBeat.com's FREE daily email newsletter.