Formula One Group (NASDAQ:FWONA) Stock Rating Lowered by Seaport Res Ptn

Seaport Res Ptn lowered shares of Formula One Group (NASDAQ:FWONA) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

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

Formula One Group Stock Up 1.5 %

Formula One Group stock opened at $84.72 on Thursday. The stock has a market capitalization of $19.91 billion, a PE ratio of 73.67 and a beta of 0.18. Formula One Group has a twelve month low of $55.25 and a twelve month high of $85.48. The company has a 50 day moving average of $75.17 and a 200-day moving average of $70.99.

Insider Transactions at Formula One Group

In other Formula One Group news, Director Andrea L. Wong sold 1,604 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total transaction of $76,045.64. Following the sale, the director now directly owns 5,274 shares of the company’s stock, valued at approximately $250,040.34. This represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Brian J. Wendling sold 1,094 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $69.57, for a total transaction of $76,109.58. The disclosure for this sale can be found here. Insiders have sold a total of 31,911 shares of company stock valued at $2,403,701 over the last 90 days. 4.83% of the stock is owned by corporate 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 acquired a new stake in Formula One Group (NASDAQ:FWONA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,079 shares of the company’s stock, valued at approximately $220,000. Hedge funds and other institutional investors own 8.38% of the company’s stock.

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.