Brian J. Wendling Sells 10,011 Shares of Formula One Group (NASDAQ:FWONK) Stock

Formula One Group (NASDAQ:FWONK) CAO Brian J. Wendling sold 10,011 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Formula One Group Stock Performance

Shares of NASDAQ:FWONK opened at $77.45 on Wednesday. Formula One Group has a 52-week low of $60.95 and a 52-week high of $82.23. The business’s 50 day simple moving average is $77.54 and its two-hundred day simple moving average is $73.13. The firm has a market cap of $18.20 billion and a P/E ratio of 56.53.

Formula One Group (NASDAQ:FWONK) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The firm had revenue of $853.00 million during the quarter, compared to the consensus estimate of $960.45 million. On average, equities analysts forecast that Formula One Group will post 0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FWONK. Janney Montgomery Scott LLC purchased a new stake in shares of Formula One Group in the fourth quarter worth approximately $1,167,000. Beach Investment Counsel Inc. PA bought a new stake in Formula One Group during the second quarter worth $48,000. Finally, Hahn Capital Management LLC lifted its stake in Formula One Group by 33.5% during 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. 92.26% of the stock is owned by 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.