Formula One Group (NASDAQ:FWONK) has a beta value of 1.27 and has seen 1,275,587 shares traded in the last trading session. The company, currently valued at $7.55 Billion, closed the last trade at $32.91 per share which meant it gained $0.2 on the day or 0.89% during that session. The FWONK stock price is -48.74% off its 52-week high price of $48.95 and 44.36% above the 52-week low of $18.31. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.75 Million shares traded. The 3-month trading volume is 2.03 Million shares.
The consensus among analysts is that Formula One Group (FWONK) is an Overweight stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 4 out of 9 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.44.
Formula One Group (NASDAQ:FWONK) trade information
Sporting 0.89% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Jul 01 when the FWONK stock price touched $33.46- or saw a rise of 1.64%. Year-to-date, Formula One Group shares have moved -28.4%, while the 5-day performance has seen it change 5.04%. Over the past 30 days, the shares of Formula One Group (NASDAQ:FWONK) have changed -8.46%. Short interest in the company has seen 6.21 Million shares shorted with days to cover at 3.06.
Wall Street analysts have a consensus price target for the stock at $39.5, which means that the shares’ value could jump 20.02% from current levels. The projected low price target is $32 while the price target rests at a high of $44. In that case, then, we find that the current price level is +33.7% off the targeted high while a plunge would see the stock lose -2.77% from current levels.
Formula One Group (FWONK) estimates and forecasts
Figures show that Formula One Group shares have outperformed across the wider relevant industry. The company’s shares have lost -28.74% over the past 6 months, with this year growth rate of 22.96%, compared to -21.5% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -33.3% and -61.1% for the next quarter. Revenue growth from the last financial year stood is estimated to be -16.4%.
5 analysts offering their estimates for the company have set an average revenue estimate of $366.94 Million for the current quarter. 4 have an estimated revenue figure of $714.89 Million for the next quarter concluding in September 01, 2020. Year-ago sales stood $620Million and $633Million respectively for this quarter and the next, and analysts expect sales will grow by -40.8% for the current quarter and 12.9% for the next.
Earnings growth for 2020 is a modest +1.5%.
Formula One Group (NASDAQ:FWONK)’s Major holders
Insiders own 3.05% of the company shares, while shares held by institutions stand at 95.09% with a share float percentage of 98.09%. Investors are also buoyed by the number of investors in a company, with Formula One Group having a total of 448 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 18.24 Million shares worth more than $496.75 Million. As of March 30, 2020, Vanguard Group, Inc. (The) held 8.97% of shares outstanding.
The other major institutional holder is Caledonia (Private) Investments Pty Ltd, with the holding of over 17.07 Million shares as of March 30, 2020. The firm’s total holdings are worth over $464.78 Million and represent 8.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of March 30, 2020, the former fund manager holds about 2.73% shares in the company for having 5560906 shares of worth $151.42 Million while later fund manager owns 4.96 Million shares of worth $135.09 Million as of March 30, 2020, which makes it owner of about 2.44% of company’s outstanding stock.