Insider Selling: Formula One Group (NASDAQ:FWONK) CAO Sells 1,094 Shares of Stock

Formula One Group (NASDAQ:FWONKGet Free Report) CAO Brian J. Wendling sold 1,094 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $69.57, for a total value of $76,109.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Brian J. Wendling also recently made the following trade(s):

  • On Friday, September 20th, Brian J. Wendling sold 10,011 shares of Formula One Group stock. The shares were sold at an average price of $73.80, for a total value of $738,811.80.

Formula One Group Price Performance

NASDAQ:FWONK opened at $84.17 on Monday. Formula One Group has a fifty-two week low of $61.23 and a fifty-two week high of $86.65. The stock has a market capitalization of $18.71 billion, a PE ratio of 73.19 and a beta of 0.01. The business’s 50-day simple moving average is $79.55 and its 200-day simple moving average is $76.52.

Formula One Group (NASDAQ:FWONKGet Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $848.00 million during the quarter, compared to analyst estimates of $837.59 million. On average, research analysts expect that Formula One Group will post 1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com downgraded Formula One Group from a “hold” rating to a “sell” rating in a report on Monday, November 18th. Morgan Stanley upped their target price on Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Rosenblatt Securities upped their target price on Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group assumed coverage on Formula One Group in a research report on Thursday, October 17th. They set a “neutral” rating and a $85.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Formula One Group currently has an average rating of “Hold” and a consensus target price of $88.25.

Check Out Our Latest Stock Report on FWONK

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hahn Capital Management LLC boosted its stake in Formula One Group by 33.5% in the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after purchasing an additional 17,219 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after acquiring an additional 3,958 shares during the period. Lountzis Asset Management LLC lifted its position in shares of Formula One Group by 17.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after acquiring an additional 864 shares during the period. Greenwood Gearhart Inc. lifted its position in shares of Formula One Group by 8.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock valued at $13,640,000 after acquiring an additional 13,146 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Formula One Group by 3.0% during the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock valued at $538,000 after acquiring an additional 203 shares during the period. 92.26% of the stock is currently owned by institutional investors.

About Formula One Group

(Get Free Report)

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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Insider Buying and Selling by Quarter for Formula One Group (NASDAQ:FWONK)

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