Formula One Group (NASDAQ:FWONA) Reaches New 52-Week High – Time to Buy?

Shares of Formula One Group (NASDAQ:FWONA) reached a new 52-week high on Wednesday . The company traded as high as $83.46 and last traded at $83.24, with a volume of 53132 shares changing hands. The stock had previously closed at $80.78.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th.

Formula One Group Stock Up 3.3 %

The company has a market capitalization of $19.61 billion, a PE ratio of 73.18 and a beta of 0.18. The stock has a 50-day moving average of $74.67 and a 200 day moving average of $70.80.

Insider Activity at Formula One Group

In other Formula One Group news, CAO Brian J. Wendling sold 1,094 shares of the firm’s 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea L. Wong sold 1,604 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the completion of the sale, the director now directly owns 5,274 shares of the company’s stock, valued at $250,040.34. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,911 shares of company stock valued at $2,403,701. 4.83% of the stock is owned by insiders.

Institutional Trading of Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Integrated Wealth Concepts LLC increased its stake in Formula One Group (NASDAQ:FWONA) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,462 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Formula One Group were worth $534,000 at the end of the most recent quarter. 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.