Benchmark Reiterates “Buy” Rating for Formula One Group (NASDAQ:FWONA)

Formula One Group (NASDAQ:FWONA)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $81.00 price target on the stock. Benchmark’s target price indicates a potential upside of 3.85% from the company’s previous close.

Formula One Group Stock Performance

Shares of NASDAQ FWONA traded down $0.43 during trading on Thursday, hitting $78.00. The company had a trading volume of 6,692 shares, compared to its average volume of 100,334. The stock has a 50 day simple moving average of $72.34 and a 200 day simple moving average of $69.21. The firm has a market capitalization of $18.33 billion, a P/E ratio of 67.97 and a beta of 0.05. Formula One Group has a 12 month low of $55.25 and a 12 month high of $79.67.

Insider Buying and Selling at Formula One Group

In other Formula One Group news, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Andrea L. Wong sold 1,604 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total transaction of $76,045.64. Following the transaction, the director now owns 5,274 shares of the company’s stock, valued at approximately $250,040.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Renee L. Wilm sold 19,202 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total value of $1,512,733.56. The disclosure for this sale can be found here. Insiders sold 30,817 shares of company stock worth $2,327,591 over the last 90 days. 4.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Formula One Group

A hedge fund recently bought a new stake in Formula One Group stock. Lountzis Asset Management LLC bought a new stake in shares of Formula One Group (NASDAQ:FWONA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,079 shares of the company’s stock, valued at approximately $220,000. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

About Formula One Group

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.