Insider Selling: Formula One Group (NASDAQ:FWONK) CAO Sells $76,109.58 in Stock

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

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 value of $738,811.80.

Formula One Group Stock Performance

FWONK opened at $84.17 on Monday. The business’s fifty day moving average is $79.55 and its two-hundred day moving average is $76.52. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 73.19 and a beta of 0.01. Formula One Group has a one year low of $61.23 and a one year high of $86.65.

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, beating the consensus estimate of $0.30 by $0.18. The company had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $837.59 million. On average, analysts predict that Formula One Group will post 1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Formula One Group

A number of large investors have recently modified their holdings of the stock. Beach Investment Counsel Inc. PA purchased a new position in Formula One Group in the second quarter valued at about $48,000. Lountzis Asset Management LLC lifted its holdings in Formula One Group by 17.0% during the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock worth $461,000 after buying an additional 864 shares during the last quarter. 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 buying an additional 203 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock worth $2,117,000 after buying an additional 3,958 shares during the last quarter. Finally, Hahn Capital Management LLC lifted its holdings in Formula One Group by 33.5% during the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after buying an additional 17,219 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FWONK shares. Morgan Stanley upped their target price on 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. StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Rosenblatt Securities boosted their price target on Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group started coverage on Formula One Group in a research report on Thursday, October 17th. They set a “neutral” rating and a $85.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $88.25.

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.