Formula One Group (NASDAQ:FWONK) Upgraded at StockNews.com

Formula One Group (NASDAQ:FWONK) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a note issued to investors on Friday.

Separately, Morgan Stanley upped their price target on shares of Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd.

Formula One Group Price Performance

NASDAQ:FWONK opened at $77.14 on Friday. The stock has a market cap of $18.13 billion, a PE ratio of 56.31 and a beta of 0.04. Formula One Group has a fifty-two week low of $61.23 and a fifty-two week high of $82.23. The stock’s 50-day moving average is $77.22 and its two-hundred day moving average is $73.53.

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

Insider Buying and Selling

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Brian J. Wendling sold 10,011 shares of Formula One Group stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $73.80, for a total value of $738,811.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,817 shares of company stock worth $2,327,591. Insiders own 4.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hahn Capital Management LLC grew its holdings 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 valued at $4,929,000 after buying an additional 17,219 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Formula One Group by 13.6% during the first quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock worth $1,378,000 after acquiring an additional 2,514 shares during the period. Finally, Beach Investment Counsel Inc. PA bought a new position in Formula One Group during the second quarter worth $48,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

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.