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 on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total value of $76,109.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $73.80, for a total value of $738,811.80.

Formula One Group Price Performance

Shares of Formula One Group stock traded down $0.96 during trading on Friday, reaching $84.17. 1,005,929 shares of the stock traded hands, compared to its average volume of 1,161,245. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 74.03 and a beta of 0.01. The business has a fifty day simple moving average of $79.37 and a two-hundred day simple moving average of $76.39. Formula One Group has a 52-week low of $61.23 and a 52-week 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 for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $848.00 million for the quarter, compared to analysts’ expectations of $837.59 million. On average, research analysts predict that Formula One Group will post 1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FWONK. Hahn Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 17,219 shares during the last quarter. Greenwood Gearhart Inc. lifted its holdings in shares of Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock valued at $13,640,000 after acquiring an additional 13,146 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Formula One Group by 16.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after acquiring an additional 3,958 shares during the last quarter. Lountzis Asset Management LLC lifted its holdings in shares of Formula One Group by 17.0% in the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after acquiring an additional 864 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Formula One Group in the 2nd quarter valued at about $48,000. Institutional investors own 92.26% of the company’s stock.

Wall Street Analyst Weigh In

FWONK has been the subject of a number of analyst reports. StockNews.com lowered Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group initiated coverage on Formula One Group in a research note on Thursday, October 17th. They issued a “neutral” rating and a $85.00 price target for the company. Rosenblatt Securities increased their price target on Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price objective on 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Formula One Group has an average rating of “Hold” and an average 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.