The Vanguard Group, Inc. has recently announced that it has increased stake in Formula One Group (NASDAQ:FWONK) by 0.80%. After grabbing 17.6 million shares, the institutional investor is now in possession of 0.14 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 8.52% having worth around $1.27 billion. Moreover, T. Rowe Price Associates, Inc. increased its share by 0.18 million to have a control over 12.75 million shares. And BlackRock Fund Advisors raised its holdings to 0.12 million shares by acquiring 8.18 million shares or 3.96% of the stake.
Formula One Group (FWONK) concluded trading on 05/25/23 at a closing price of $70.01, with 1.18 million shares of worth about $82.42 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 18.84% during that period and on Thursday the price saw a loss of about -1.88%. Currently the company’s common shares owned by public are about 207.91M shares, out of which, 200.51M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the FWONK stock and their offered price forecasts bring an average price target of $78.43. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $91.00 and could fall to a lowest price of $60.00. The stock’s current price level is 14.41% above of average price target set by the analysts, while a rise to estimated low would result in loss of -16.68% for the stock. However, touching the estimated high of $91.00 would mean a gain of 23.07% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 23 times over the past 12 months. They bought 21,853 shares in 4 of the transactions. In 19 selling transactions, insiders dumped 535,862 shares.
Vanguard Total Stock Market ETF, Janus Henderson Enterprise Fund, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Formula One Group Vanguard Total Stock Market ETF is currently holding 5.65 million shares of worth totaling $408.02 million. The company recently came buying 12000.0 shares which brought its stake up to 2.74% of the company’s outstanding shares. Janus Henderson Enterprise Fund bought 0.41 million shares, after which its hold over company’s outstanding shares expand to 2.60%, leaving 5.37 million shares with the mutual fund that have a worth of about $387.43 million. Vanguard Small Cap Index Fund, after selling 5.12 million shares, have now control over 2.48% of the stake in the company. It holds 1254.0 shares of worth $369.95 million.
However, the stock later moved at a day high price of 71.45, or with a loss of -1.88%. Stock saw a price change of -4.46% in past 5 days and over the past one month there was a price change of -0.38%. Year-to-date (YTD), FWONK shares are showing a performance of 17.11% which increased to 15.09% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $50.00 but also hit the highest price of $76.15 during that period. The average intraday trading volume for Formula One Group shares is 842.34K. The stock is currently trading -3.23% below its 20-day simple moving average (SMA20), while that difference is down -3.95% for SMA50 and it goes to 5.97% higher than SMA200.
The Vanguard Group, Inc. acquired 17.6 million shares of Formula One Group having value of about $1.27 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.14 million shares in the company valued at close to $9800489.87, or have control over 0.80% stake in the company. Formula One Group (NASDAQ: FWONK) currently have 207.91M outstanding shares and institutions hold larger chunk of about 99.37% of that. Holding of mutual funds in the company is about 47.87% while other institutional holders and individual stake holders have control over 50.82% and 4.64% of the stake respectively.
The stock has a current market capitalization of $26.91B. PE ratio of stock for trailing 12 months is 39.11, while it has posted earnings per share of $1.79 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FWONK, volatility over the week remained 2.39% while standing at 2.69% over the month.
Analysts are in expectations that Formula One Group (FWONK) stock would likely to be making an EPS of -$0.09 in the current quarter, while forecast for next quarter EPS is $0.1 and it is $1.07 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.27 which is $0.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.15 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -78.60% while it is estimated to increase by 132.60% in next year.
Analysts at 14 brokerage firms have issued recommendations for the Formula One Group (FWONK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 14 Wall Street analysts, 9 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
