Insider Selling: Formula One Group (NASDAQ:FWONA) Insider Sells 19,202 Shares of Stock

Formula One Group (NASDAQ:FWONA) insider Renee L. Wilm sold 19,202 shares of Formula One Group stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Formula One Group Trading Down 0.8 %

Shares of NASDAQ FWONA traded down $0.58 during trading on Monday, reaching $70.99. The company had a trading volume of 148,122 shares, compared to its average volume of 101,511. The stock has a market capitalization of $16.68 billion and a PE ratio of 51.82. Formula One Group has a twelve month low of $55.08 and a twelve month high of $75.50. The stock has a 50-day moving average price of $70.84 and a two-hundred day moving average price of $66.07.

Formula One Group (NASDAQ:FWONA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The business had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. On average, sell-side analysts predict that Formula One Group will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Formula One Group

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

Analysts Set New Price Targets

A number of brokerages have commented on FWONA. Deutsche Bank Aktiengesellschaft upgraded shares of Formula One Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $83.00 in a report on Thursday, May 30th. Benchmark increased their target price 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.

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.