Insider Selling: Formula One Group (NASDAQ:FWONK) CAO Sells 1,094 Shares of Stock

Formula One Group (NASDAQ:FWONK) CAO Brian J. Wendling sold 1,094 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian J. Wendling also recently made the following trade(s):

• On Friday, September 20th, Brian J. Wendling sold 10,011 shares of Formula One Group stock. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80.

Formula One Group Trading Down 1.1 %

NASDAQ FWONK opened at $84.17 on Friday. The business has a fifty day simple moving average of $79.55 and a 200 day simple moving average of $76.49. Formula One Group has a 12 month low of $61.23 and a 12 month high of $86.65. The firm has a market capitalization of $18.71 billion, a P/E ratio of 73.19 and a beta of 0.01.

Formula One Group (NASDAQ:FWONK) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $848.00 million during the quarter, compared to the consensus estimate of $837.59 million. As a group, sell-side analysts predict that Formula One Group will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Formula One Group

Institutional investors have recently bought and sold shares of the company. Hahn Capital Management LLC lifted its stake in shares of Formula One Group by 33.5% during the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after buying an additional 17,219 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Formula One Group by 16.9% in the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock worth $2,117,000 after acquiring an additional 3,958 shares during the period. Lountzis Asset Management LLC boosted its holdings in shares of Formula One Group by 17.0% in the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock worth $461,000 after acquiring an additional 864 shares during the period. Greenwood Gearhart Inc. raised its stake in shares of Formula One Group by 8.1% during the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock valued at $13,640,000 after purchasing an additional 13,146 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Formula One Group by 3.0% during the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock worth $538,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FWONK shares. StockNews.com lowered Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Morgan Stanley boosted their target price on shares of Formula One Group from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, September 23rd. Rosenblatt Securities raised their price target on shares of Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, UBS Group started coverage on shares of Formula One Group in a report on Thursday, October 17th. They set a “neutral” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $88.25.

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.