Formula One Group (NASDAQ:FWONA) Sets New 1-Year High – Still a Buy?

Formula One Group (NASDAQ:FWONA) shares hit a new 52-week high on Monday . The stock traded as high as $79.99 and last traded at $79.81, with a volume of 37939 shares trading hands. The stock had previously closed at $77.45.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Formula One Group in a research report on Thursday, November 14th.

Formula One Group Trading Up 4.2 %

The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 70.21 and a beta of 0.05. The firm has a 50-day simple moving average of $73.39 and a two-hundred day simple moving average of $69.95.

Insider Transactions at Formula One Group

In other Formula One Group news, Director Andrea L. Wong sold 1,604 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total value of $76,045.64. Following the completion of the sale, the director now owns 5,274 shares in the company, valued at approximately $250,040.34. This represents a 23.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian J. Wendling sold 1,094 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total value of $76,109.58. The disclosure for this sale can be found here. Insiders have sold a total of 31,911 shares of company stock valued at $2,403,701 in the last ninety days.

Institutional Trading of Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC acquired a new position in shares of Formula One Group (NASDAQ:FWONA) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,079 shares of the company’s stock, valued at approximately $220,000. Hedge funds and other institutional investors own 8.38% of the company’s stock.

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.