Formula One Group (NASDAQ:FWONK) Insider Renee L. Wilm Sells 19,202 Shares

Formula One Group (NASDAQ:FWONK) insider Renee L. Wilm sold 19,202 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $78.78, for a total transaction of $1,512,733.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Formula One Group Stock Down 0.8 %

Shares of FWONK traded down $0.61 during trading hours on Monday, reaching $77.12. 1,078,506 shares of the company traded hands, compared to its average volume of 1,195,518. Formula One Group has a 12 month low of $60.95 and a 12 month high of $82.23. The company’s fifty day moving average price is $77.59 and its two-hundred day moving average price is $73.09. The company has a market capitalization of $18.13 billion and a price-to-earnings ratio of 56.29.

Formula One Group (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $960.45 million. On average, analysts expect that Formula One Group will post 0.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Hahn Capital Management LLC lifted 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 worth $4,929,000 after purchasing an additional 17,219 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Formula One Group by 13.6% in the first quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock worth $1,378,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Formula One Group in the second quarter worth about $48,000. Institutional investors own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FWONK shares. Morgan Stanley upped their price target on shares of Formula One Group from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI increased their target price on shares of Formula One Group from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. Finally, StockNews.com upgraded Formula One Group to a “sell” rating in a report on Saturday, August 24th.

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.