Formula One Group (NASDAQ:FWONK) is Fairview Capital Investment Management LLC’s 7th Largest Position

Fairview Capital Investment Management LLC trimmed its position in shares of Formula One Group (NASDAQ:FWONK) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 770,225 shares of the company’s stock after selling 7,528 shares during the quarter. Formula One Group makes up 3.7% of Fairview Capital Investment Management LLC’s portfolio, making the stock its 7th biggest holding. Fairview Capital Investment Management LLC owned 0.31% of Formula One Group worth $71,369,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in shares of Formula One Group by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,627 shares of the company’s stock valued at $2,560,000 after purchasing an additional 287 shares during the period. Hahn Capital Management LLC boosted its stake in Formula One Group by 47.7% in the 4th quarter. Hahn Capital Management LLC now owns 67,197 shares of the company’s stock worth $6,226,000 after buying an additional 21,699 shares during the last quarter. Allstate Corp purchased a new stake in Formula One Group in the 4th quarter valued at about $571,000. Finally, Greenwood Gearhart Inc. lifted its holdings in shares of Formula One Group by 2.7% during the 4th quarter. Greenwood Gearhart Inc. now owns 180,921 shares of the company’s stock worth $16,764,000 after acquiring an additional 4,761 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FWONK shares. Seaport Res Ptn upgraded Formula One Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 16th. Rosenblatt Securities reiterated a “buy” rating and set a $102.00 price objective on shares of Formula One Group in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Formula One Group from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Susquehanna started coverage on shares of Formula One Group in a research note on Monday, April 28th. They set a “positive” rating and a $115.00 price target on the stock. Finally, Wells Fargo & Company cut their target price on Formula One Group from $83.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Formula One Group has a consensus rating of “Moderate Buy” and an average target price of $98.14.

Formula One Group Stock Up 0.4 %

FWONK stock opened at $93.91 on Friday. The company has a 50 day moving average of $86.34 and a two-hundred day moving average of $89.24. Formula One Group has a 12-month low of $68.43 and a 12-month high of $102.33. The company has a market cap of $23.41 billion, a price-to-earnings ratio of 81.66 and a beta of 0.33.

Formula One Group (NASDAQ:FWONK) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.23. The firm had revenue of $447.00 million for the quarter, compared to analyst estimates of $440.80 million. On average, research analysts anticipate that Formula One Group will post 1.36 EPS for the current year.

About Formula One Group

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.