Brian J. Wendling Sells 1,094 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK) CAO Brian J. Wendling sold 1,094 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total transaction of $76,109.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $73.80, for a total transaction of $738,811.80.

Formula One Group Trading Down 1.1 %

Shares of NASDAQ:FWONK opened at $84.17 on Friday. The stock has a market capitalization of $18.71 billion, a P/E ratio of 73.19 and a beta of 0.01. The stock’s 50-day moving average price is $79.55 and its 200-day moving average price is $76.49. Formula One Group has a 12-month low of $61.23 and a 12-month high of $86.65.

Formula One Group (NASDAQ:FWONK) last issued its earnings results on Tuesday, November 12th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.18. The company had revenue of $848.00 million for the quarter, compared to analysts’ expectations of $837.59 million. As a group, research analysts predict that Formula One Group will post 1.24 EPS for the current year.

Institutional Investors Weigh In On Formula One Group

A number of large investors have recently added to or reduced their stakes in FWONK. Greenwood Gearhart Inc. lifted its holdings in Formula One Group by 8.1% in the 3rd quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock worth $13,640,000 after buying an additional 13,146 shares during the period. MetLife Investment Management LLC lifted its stake in Formula One Group by 3.0% in the third quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock worth $538,000 after acquiring an additional 203 shares during the period. Lountzis Asset Management LLC boosted its holdings in Formula One Group by 17.0% in the third 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 in the last quarter. Janney Montgomery Scott LLC increased its position in Formula One Group by 16.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock valued at $2,117,000 after purchasing an additional 3,958 shares during the period. Finally, Hahn Capital Management LLC raised its holdings in Formula One Group by 33.5% in the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after purchasing an additional 17,219 shares in the last quarter. Institutional investors own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FWONK shares. UBS Group began coverage on Formula One Group in a research note on Thursday, October 17th. They issued a “neutral” rating and a $85.00 target price on the stock. StockNews.com lowered Formula One Group from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. 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 report on Monday, September 23rd. Finally, Rosenblatt Securities upped their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $88.25.

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.