In last trading session, Formula One Group (NASDAQ:FWONK) saw 0.85 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $62.96 trading at -$0.09 or -0.14% at ring of the bell on the day assigns it a market valuation of $12.84B. That closing price of FWONK’s stock is at a discount of -3.62% from its 52-week high price of $65.24 and is indicating a premium of 38.31% from its 52-week low price of $38.84. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.19 million shares which gives us an average trading volume of 1.07 million if we extend that period to 3-months.
For Formula One Group (FWONK), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.30. Splitting up the data highlights that, out of 11 analysts covering the stock, 2 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.11 in the current quarter.
Formula One Group (NASDAQ:FWONK) trade information
Upright in the red during last session for losing -0.14%, in the last five days FWONK remained trading in the green while hitting it’s week-highest on Monday, 01/10/22 when the stock touched $62.96 price level, adding 1.3% to its value on the day. Formula One Group’s shares saw a change of -0.44% in year-to-date performance and have moved 0.13% in past 5-day. Formula One Group (NASDAQ:FWONK) showed a performance of 3.31% in past 30-days. Number of shares sold short was 8.49 million shares which calculate 5.99 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $60.89 to the stock, which implies a fall of -3.4% to its current value. Analysts have been projecting $43.00 as a low price target for the stock while placing it at a high target of $75.00. It follows that stock’s current price would drop -19.12% in reaching the projected high whereas dropping to the targeted low would mean a gain of 31.7% for stock’s current value.
Formula One Group (FWONK) estimates and forecasts
The company is estimating its revenue growth to decrease by -38.90% in the current quarter and calculating -50.00% decrease in the next quarter. This year revenue growth is estimated to rise 79.60% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $729.41 million for the same. And 2 analysts are in estimates of company making revenue of $243.94 million in the next quarter that will end on Mar 2022. Company posted $485 million and $180 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 50.40% while estimating it to be 35.50% for the next quarter.
Formula One Group is more likely to be releasing its next quarterly report on November 05 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Formula One Group (NASDAQ:FWONK)’s Major holders
Insiders are in possession of 2.77% of company’s total shares while institution are holding 98.42 percent of that, with stock having share float percentage of 101.22%. Investors also watch the number of corporate investors in a company very closely, which is 98.42% institutions for Formula One Group that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at FWONK for having 17.2 million shares of worth $884.38 million. And as of Sep 29, 2021, it was holding 8.45% of the company’s outstanding shares.
The second largest institutional holder is Caledonia (Private) Investments Pty Ltd, which was holding about 16.79 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 8.25% of outstanding shares, having a total worth of $863.31 million.
On the other hand, Vanguard Total Stock Market Index Fund and Blackrock Funds-Mid-Cap Growth Equity Portfolio are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 5.26 million shares of worth $270.44 million or 2.58% of the total outstanding shares. The later fund manager was in possession of 5.24 million shares on Aug 30, 2021, making its stake of worth around $264.94 million in the company or a holder of 2.57% of company’s stock.