Brian J. Wendling Sells 10,011 Shares of Formula One Group (NASDAQ:FWONA) Stock

Formula One Group (NASDAQ:FWONA) CAO Brian J. Wendling sold 10,011 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Formula One Group Stock Performance

Shares of Formula One Group stock traded down $0.58 during trading on Monday, reaching $70.99. The company’s stock had a trading volume of 148,122 shares, compared to its average volume of 101,511. The business’s fifty day moving average price is $70.84 and its 200-day moving average price is $66.07. The firm has a market cap of $16.68 billion and a price-to-earnings ratio of 51.82. Formula One Group has a one year low of $55.08 and a one year high of $75.50.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that Formula One Group will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC boosted its position in shares of Formula One Group (NASDAQ:FWONA) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,413 shares of the company’s stock after acquiring 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 quarter. Institutional investors own 8.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FWONA shares. Benchmark boosted their price target on Formula One Group from $77.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Formula One Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $83.00 in a research note on Thursday, May 30th.

About Formula One Group

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.