Janney Montgomery Scott LLC Trims Position in Formula One Group (NASDAQ:FWONA)

Janney Montgomery Scott LLC cut its holdings in shares of Formula One Group (NASDAQ:FWONA) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,651 shares of the company’s stock after selling 1,515 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $762,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and issued a $81.00 price target on shares of Formula One Group in a research note on Thursday.

Formula One Group Stock Down 3.8 %

Shares of FWONA stock opened at $74.33 on Monday. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of 64.63 and a beta of 0.05. The business’s fifty day moving average is $72.74 and its 200 day moving average is $69.46. Formula One Group has a twelve month low of $55.25 and a twelve month high of $79.67.

Insiders Place Their Bets

In other news, Director Andrea L. Wong sold 1,604 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total transaction of $76,045.64. Following the transaction, the director now directly owns 5,274 shares of the company’s stock, valued at $250,040.34. This represents a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brian J. Wendling sold 10,011 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $73.80, for a total value of $738,811.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,817 shares of company stock valued at $2,327,591. 4.83% of the stock is currently owned by corporate insiders.

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.