Positives for Formula One Group (FWONK) as stock loss in recent trading

Formula One Group (NASDAQ: FWONK) is -7.32% lower on its value in year-to-date trading and has touched a low of $18.31 and a high of $48.95 in the current 52-week trading range. The FWONK stock was last observed hovering at around $42.83 in the last trading session, with the day’s loss setting it -0.23% off its average median price target of $47.50 for the next 12 months. It is also 19.62% off the consensus price target high of $53.00 offered by 9 analysts, but current levels are -3.9% lower than the price target low of $41.00 for the same period.

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Currently trading at $42.60, the stock is 0.09% and 4.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.89 million and changing -0.54% at the moment leaves the stock 21.28% off its SMA200. FWONK registered -7.75% loss for a year compared to 6-month gain of 29.44%. The firm has a 50-day simple moving average (SMA 50) of $42.39 and a 200-day simple moving average (SMA200) of $37.75.

The stock witnessed a -0.79% loss in the last 1 month and extending the period to 3 months gives it a 14.67%, and is 3.35% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.84% over the week and 3.29% over the month.

Distance from 52-week low is 132.66% and -12.97% from its 52-week high.

Formula One Group (FWONK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Formula One Group (FWONK) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Formula One Group is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at -$0.04 with sales reaching $600.8M over the same period.The EPS is expected to shrink by -122.20% this year, but quarterly earnings will post -40.10% year-over-year. Quarterly sales are estimated to grow 14.90% in year-over-year returns.

Formula One Group (FWONK) Top Institutional Holders

459 institutions hold shares in Formula One Group (FWONK), with 6.88M shares held by insiders accounting for 2.97% while institutional investors hold 99.10% of the company’s shares. Institutions hold 96.16% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 16.97 million shares valued at $615.47 million. The investor’s holdings represent 8.34% of the FWONK Shares outstanding. As of Sep 29, 2020, the second largest holder is Caledonia (Private) Investments Pty Ltd with 16.61 million shares valued at $602.36 million to account for 8.16% of the shares outstanding. The other top investors are Janus Henderson Group PLC which holds 13.76 million shares representing 6.76% and valued at over $499.09 million, while Blackrock Inc. holds 6.51% of the shares totaling 13.25 million with a market value of $480.64 million.

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Formula One Group (FWONK): Who are the competitors?

The company’s main competitors (and peers) include Nexstar Media Group Inc. (NXST) that is trading -5.07% down over the past 12 months. Short interest in the company’s stock has risen 2.68% from the last report on Nov 12, 2020 to stand at a total of 7.25 million short shares sold with a short interest ratio of 7.88.

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