Formula One Group (NASDAQ:FWONA) Coverage Initiated by Analysts at Susquehanna

Susquehanna began coverage on shares of Formula One Group (NASDAQ:FWONA) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued a positive rating and a $115.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Guggenheim reaffirmed a “buy” rating on shares of Formula One Group in a report on Monday, March 3rd. Wells Fargo & Company began coverage on Formula One Group in a report on Monday, February 24th. They set an “underweight” rating and a $83.00 price target on the stock. Finally, Seaport Res Ptn raised Formula One Group from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 15th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.50.

Formula One Group Price Performance

NASDAQ:FWONA opened at $79.95 on Monday. The firm has a market capitalization of $19.93 billion, a PE ratio of 69.52 and a beta of 0.39. The business’s fifty day moving average price is $79.45 and its 200 day moving average price is $81.22. Formula One Group has a 12 month low of $61.27 and a 12 month high of $95.33.

Formula One Group (NASDAQ:FWONA) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($1.46). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, equities analysts anticipate that Formula One Group will post 1.46 EPS for the current year.

Institutional Investors Weigh In On Formula One Group

A number of hedge funds have recently added to or reduced their stakes in FWONA. Janney Montgomery Scott LLC lifted its position in Formula One Group by 74.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,372 shares of the company’s stock valued at $1,497,000 after purchasing an additional 7,811 shares during the period. Russell Investments Group Ltd. lifted its position in Formula One Group by 67.2% in the fourth quarter. Russell Investments Group Ltd. now owns 662 shares of the company’s stock valued at $56,000 after purchasing an additional 266 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in shares of Formula One Group by 25.6% during the 4th quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock valued at $65,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.