Formula One Group (NASDAQ:FWONK – Get Free Report) was the target of unusually large options trading on Monday. Stock traders purchased 4,003 call options on the stock. This represents an increase of approximately 1,554% compared to the typical daily volume of 242 call options.
Formula One Group Stock Performance
FWONK opened at $78.21 on Wednesday. Formula One Group has a 52-week low of $60.95 and a 52-week high of $82.23. The firm has a market capitalization of $18.38 billion and a PE ratio of 57.09. The business’s 50-day simple moving average is $77.44 and its 200 day simple moving average is $72.91.
Formula One Group (NASDAQ:FWONK – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). The business had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $960.45 million. On average, research analysts forecast that Formula One Group will post 0.98 earnings per share for the current year.
Institutional Trading of Formula One Group
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. StockNews.com upgraded Formula One Group to a “sell” rating in a report on Saturday, August 24th. Morgan Stanley dropped their target price on Formula One Group from $83.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Evercore ISI upped their target price on Formula One Group from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th.
Read Our Latest Report on Formula One Group
Formula One Group Company Profile
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.
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