Insider Selling: Formula One Group (NASDAQ:FWONA) Director Sells 1,604 Shares of Stock

Formula One Group (NASDAQ:FWONA) Director Andrea L. Wong sold 1,604 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was 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 directly owns 5,274 shares in the company, valued at $250,040.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Formula One Group Price Performance

Shares of FWONA stock traded up $0.96 on Thursday, hitting $71.91. 127,697 shares of the stock traded hands, compared to its average volume of 102,690. The firm has a market cap of $16.90 billion and a price-to-earnings ratio of 52.49. The firm has a 50 day simple moving average of $70.85 and a two-hundred day simple moving average of $66.15. Formula One Group has a 52 week low of $55.08 and a 52 week high of $75.50.

Formula One Group (NASDAQ:FWONA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). The firm had revenue of $853.00 million during the quarter, compared to analyst estimates of $1.04 billion. Sell-side analysts forecast that Formula One Group will post 1.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Benchmark upped their target price on shares of Formula One Group from $77.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Formula One Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $83.00 in a report on Thursday, May 30th.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC grew its stake in Formula One Group (NASDAQ:FWONA) by 13.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,413 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 at the end of the most recent reporting period. 8.38% of the stock is currently owned by institutional investors.

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.