Formula One Group (NASDAQ:FWONA) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Formula One Group (NASDAQ:FWONA) in a research report released on Monday morning,Benzinga reports. The firm issued an underweight rating and a $83.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on FWONA. Benchmark reiterated a “buy” rating and set a $81.00 price objective on shares of Formula One Group in a research note on Thursday, November 14th. Seaport Res Ptn lowered Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th.

Formula One Group Stock Up 0.8 %

Shares of Formula One Group stock opened at $88.00 on Monday. Formula One Group has a 12-month low of $57.43 and a 12-month high of $95.33. The stock has a market cap of $21.89 billion, a P/E ratio of 76.52 and a beta of 0.14. The business’s 50 day moving average is $86.97 and its 200-day moving average is $78.78.

Insider Buying and Selling

In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following the transaction, the chief executive officer now directly owns 1,240,785 shares of the company’s stock, valued at $88,753,351.05. This represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in Formula One Group by 67.2% in the 4th quarter. Russell Investments Group Ltd. now owns 662 shares of the company’s stock valued at $56,000 after buying an additional 266 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Formula One Group by 25.6% during the 4th quarter. FNY Investment Advisers LLC now owns 779 shares of the company’s stock valued at $65,000 after acquiring an additional 159 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Formula One Group by 4.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock valued at $534,000 after acquiring an additional 300 shares during the period. Finally, Lountzis Asset Management LLC bought a new stake in shares of Formula One Group during the 3rd quarter valued at $220,000. 8.38% of the stock is owned by institutional investors and hedge funds.

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.