Formula One Group (NASDAQ:FWONK) Given Consensus Rating of “Hold” by Brokerages

Shares of Formula One Group (NASDAQ:FWONKGet Rating) have received an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $60.33.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Formula One Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Morgan Stanley raised their price target on Formula One Group from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 26th. JPMorgan Chase & Co. raised their target price on shares of Formula One Group from $65.00 to $77.00 in a report on Thursday, April 21st. StockNews.com began coverage on shares of Formula One Group in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Rosenblatt Securities began coverage on shares of Formula One Group in a research report on Monday, April 25th. They set a “buy” rating and a $81.00 price objective for the company.

In other Formula One Group news, major shareholder Gamco Investors, Inc. Et Al bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were acquired at an average cost of $26.05 per share, for a total transaction of $26,050.00. Following the purchase, the insider now directly owns 17,500 shares of the company’s stock, valued at $455,875. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 12,000 shares of company stock worth $328,850 over the last 90 days.

Several institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Formula One Group by 222.0% in the 4th quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock valued at $26,000 after purchasing an additional 282 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Formula One Group by 84.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 490 shares of the company’s stock valued at $25,000 after purchasing an additional 225 shares during the period. James Investment Research Inc. purchased a new position in shares of Formula One Group in the 4th quarter valued at approximately $37,000. Pinnacle Holdings LLC bought a new position in Formula One Group during the 3rd quarter valued at approximately $52,000. Finally, Verity Asset Management Inc. bought a new position in Formula One Group during the 4th quarter valued at approximately $241,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.

FWONK opened at $62.39 on Monday. Formula One Group has a fifty-two week low of $43.25 and a fifty-two week high of $71.17. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day moving average price is $64.43 and its two-hundred day moving average price is $62.02. The company has a market capitalization of $14.42 billion, a P/E ratio of -81.03 and a beta of 1.23.

Formula One Group (NASDAQ:FWONKGet Rating) last issued its earnings results on Friday, February 25th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.81). The firm had revenue of $787.00 million during the quarter, compared to analyst estimates of $726.07 million. Formula One Group had a negative net margin of 7.73% and a negative return on equity of 0.97%. On average, equities research analysts expect that Formula One Group will post 0.17 EPS for the current fiscal year.

Formula One Group Company Profile (Get Rating)

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the 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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Analyst Recommendations for Formula One Group (NASDAQ:FWONK)

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