Formula One Group (NASDAQ:FWONA) Insider Sells $1,512,733.56 in Stock

Formula One Group (NASDAQ:FWONA) insider Renee L. Wilm sold 19,202 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Formula One Group Stock Performance

Shares of NASDAQ FWONA opened at $70.95 on Thursday. Formula One Group has a 52-week low of $55.08 and a 52-week high of $75.50. The firm has a market capitalization of $16.68 billion and a price-to-earnings ratio of 51.79. The stock has a 50 day moving average price of $70.85 and a 200 day moving average price of $66.15.

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

Analyst Ratings Changes

Several equities analysts have commented on FWONA shares. Deutsche Bank Aktiengesellschaft raised Formula One Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $83.00 in a research report on Thursday, May 30th. Benchmark upped their price target on shares of Formula One Group from $77.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC grew its stake in Formula One Group (NASDAQ:FWONA) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,413 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.38% of the company’s stock.

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.