Citizens initiated coverage of Formula One Group (NasdaqGS: FWONK) with a “Market Outperform” recommendation on March 30, 2026. The firm set an average one-year price target of $130.36 per share, indicating a potential upside of 53.31% from its latest closing price of $85.03 per share. The projected annual revenue for the company stands at $3.37 billion, reflecting a decrease of 24.81%.
As of the last quarter, there are 602 funds reporting positions in Formula One Group, a decline of 42.12%, with total shares owned by institutions decreasing by 20.11% to approximately 212 million shares. Key shareholders include Principal Financial Group, which holds 12.7 million shares (5.67% ownership), and Janus Henderson Group, with 10.6 million shares (4.72% ownership). The put/call ratio for FWONK is at 0.53, indicating a bullish outlook.
