Insider Selling: Formula One Group (NASDAQ:FWONA) Director Sells $76,045.64 in Stock

Formula One Group (NASDAQ:FWONA) Director Andrea L. Wong sold 1,604 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the transaction, the director now owns 5,274 shares in the company, valued at approximately $250,040.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Formula One Group Stock Up 0.5 %

Shares of FWONA stock opened at $72.29 on Friday. The firm has a 50 day moving average of $70.87 and a 200-day moving average of $66.25. The company has a market cap of $16.99 billion and a price-to-earnings ratio of 52.77. Formula One Group has a 52 week low of $55.24 and a 52 week high of $75.50.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $1.04 billion. Analysts anticipate that Formula One Group will post 1.14 earnings per share for the current year.

Analyst Ratings Changes

Separately, Benchmark boosted their price objective on Formula One Group from $77.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Institutional Trading of Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Janney Montgomery Scott LLC raised its position in Formula One Group (NASDAQ:FWONA) by 13.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,413 shares of the company’s stock after acquiring an additional 1,600 shares during the period. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 as of its most recent filing with the SEC. 8.38% of the stock is 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.