Renee L. Wilm Sells 19,202 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK) 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Formula One Group Stock Up 0.4 %

Shares of FWONK stock opened at $77.45 on Wednesday. The firm has a market capitalization of $18.20 billion and a price-to-earnings ratio of 56.53. The stock has a fifty day moving average of $77.54 and a 200 day moving average of $73.13. Formula One Group has a 52 week low of $60.95 and a 52 week high of $82.23.

Formula One Group (NASDAQ:FWONK) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.22). The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $960.45 million. Equities research analysts anticipate that Formula One Group will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Formula One Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of Formula One Group during the fourth quarter valued at approximately $1,167,000. Beach Investment Counsel Inc. PA purchased a new position in Formula One Group in the second quarter worth about $48,000. Finally, Hahn Capital Management LLC lifted its position 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 valued at $4,929,000 after acquiring an additional 17,219 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FWONK. StockNews.com raised Formula One Group to a “sell” rating in a research note on Saturday, August 24th. Evercore ISI lifted their price objective on Formula One Group from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. Finally, Morgan Stanley increased their price objective on Formula One Group from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday.

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.