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

Formula One Group (NASDAQ:FWONA) CAO Brian J. Wendling sold 10,011 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $73.80, for a total transaction of $738,811.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Formula One Group Price Performance

NASDAQ:FWONA traded down $0.58 during midday trading on Monday, hitting $70.99. The company’s stock had a trading volume of 148,122 shares, compared to its average volume of 101,511. Formula One Group has a fifty-two week low of $55.08 and a fifty-two week high of $75.50. The firm’s 50 day moving average is $70.84 and its 200-day moving average is $66.07. The firm has a market cap of $16.68 billion and a P/E ratio of 51.82.

Formula One Group (NASDAQ:FWONA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $1.04 billion. As a group, analysts forecast that Formula One Group will post 1.14 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on FWONA. Deutsche Bank Aktiengesellschaft raised shares of Formula One Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $83.00 in a research report on Thursday, May 30th. Benchmark increased their price objective on shares of Formula One Group from $77.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 9th.

Hedge Funds Weigh In On Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Janney Montgomery Scott LLC lifted its position in shares of Formula One Group (NASDAQ:FWONA) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,413 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $788,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.38% of the company’s stock.

Formula One Group Company Profile

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.