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

Formula One Group (NASDAQ:FWONK) CAO Brian J. Wendling sold 10,011 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is accessible through this link.

Formula One Group Trading Down 0.8 %

FWONK stock traded down $0.61 during midday trading on Monday, hitting $77.12. The stock had a trading volume of 1,078,506 shares, compared to its average volume of 1,195,518. The firm has a market cap of $18.13 billion and a P/E ratio of 56.29. The business has a fifty day moving average price of $77.59 and a two-hundred day moving average price of $73.09. Formula One Group has a 1-year low of $60.95 and a 1-year high of $82.23.

Formula One Group (NASDAQ:FWONK) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) 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 anticipate that Formula One Group will post 0.98 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Formula One Group

Institutional investors have recently added to or reduced their stakes in the business. Beach Investment Counsel Inc. PA bought a new stake in Formula One Group in the second quarter valued at $48,000. Janney Montgomery Scott LLC increased its stake in Formula One Group by 13.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock valued at $1,378,000 after purchasing an additional 2,514 shares in the last quarter. Finally, Hahn Capital Management LLC raised its holdings in Formula One Group by 33.5% during the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after buying an additional 17,219 shares during the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

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.