Formula One Group (NASDAQ:FWONA) Sees Large Volume Increase – Should You Buy?

Formula One Group (NASDAQ:FWONA) shares saw strong trading volume on Wednesday . 362,357 shares traded hands during trading, an increase of 260% from the previous session’s volume of 100,539 shares.The stock last traded at $80.97 and had previously closed at $80.51.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and set a $81.00 price target on shares of Formula One Group in a report on Thursday, November 14th.

Formula One Group Stock Performance

The stock’s fifty day moving average is $73.74 and its two-hundred day moving average is $70.19. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 70.01 and a beta of 0.05.

Insider Buying and Selling at Formula One Group

In related news, insider Renee L. Wilm sold 19,202 shares of Formula One Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Brian J. Wendling sold 10,011 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,911 shares of company stock valued at $2,403,701.

Institutional Trading of Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC bought a new position in shares of Formula One Group (NASDAQ:FWONA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,079 shares of the company’s stock, valued at approximately $220,000. 8.38% of the stock is currently owned by hedge funds and other 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.