Formula One Group (FWONK) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Formula One Group (NASDAQ: FWONK) stock jumped 1.34% on Wednesday to $71.35 against a previous-day closing price of $70.41. With 0.54 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.86 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $71.82 whereas the lowest price it dropped to was $69.97. The 52-week range on FWONK shows that it touched its highest point at $76.15 and its lowest point at $50.00 during that stretch. It currently has a 1-year price target of $81.80.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FWONK was down-trending over the past week, with a drop of -3.63%, but this was down by -0.15% over a month. Three-month performance surged to 1.54% while six-month performance rose 24.07%. The stock gained 16.58% in the past year, while it has gained 19.35% so far this year. A look at the trailing 12-month EPS for FWONK yields 1.79 with Next year EPS estimates of 1.07. For the next quarter, that number is -0.09. This implies an EPS growth rate of -78.60% for this year and 132.60% for next year.

Float and Shares Shorts:

At present, 207.91 million FWONK shares are outstanding with a float of 200.51 million shares on hand for trading. On Apr 27, 2023, short shares totaled 5.24 million, which was 2.24% higher than short shares on Mar 30, 2023.

Institutional Ownership:

Through their ownership of 99.37% of FWONK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.82% of FWONK, in contrast to 47.87% held by mutual funds. Shares owned by individuals account for 4.64%. As the largest shareholder in FWONK with 8.52% of the stake, The Vanguard Group, Inc. holds 17,597,507 shares worth 17,597,507. A second-largest stockholder of FWONK, Caledonia, holds 14,090,871 shares, controlling over 6.83% of the firm’s shares. Janus Henderson Investors US LLC is the third largest shareholder in FWONK, holding 13,042,377 shares or 6.32% stake. With a 2.74% stake in FWONK, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,652,001 shares are owned by the mutual fund manager. The Janus Henderson Enterprise Fund, which owns about 2.60% of FWONK stock, is the second-largest Mutual Fund holder. It holds 5,366,846 shares valued at 387.43 million. Vanguard Small Cap Index Fund holds 2.48% of the stake in FWONK, owning 5,124,614 shares worth 369.95 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, FWONK reported revenue of $744.00M and operating income of $49.00M. The EBITDA in the recently reported quarter was $158.00M and diluted EPS was $0.35.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FWONK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FWONK analysts setting a high price target of $91.00 and a low target of $60.00, the average target price over the next 12 months is $78.43. Based on these targets, FWONK could surge 27.54% to reach the target high and fall by -15.91% to reach the target low. Reaching the average price target will result in a growth of 9.92% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded FWONK stock several times over the past three months with 2 Buys and 16 Sells. In these transactions, 14,480 shares were bought while 529,617 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 21,853 while 535,862 shares were sold.

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