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

Formula One Group (NASDAQ:FWONK) insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink.

Formula One Group Stock Performance

FWONK traded down $0.61 on Monday, reaching $77.12. The company had a trading volume of 1,078,506 shares, compared to its average volume of 1,195,518. The stock has a market cap of $18.13 billion and a P/E ratio of 56.29. Formula One Group has a fifty-two week low of $60.95 and a fifty-two week high of $82.23. The company’s fifty day moving average is $77.59 and its 200 day moving average is $73.09.

Formula One Group (NASDAQ:FWONK) last posted its earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that Formula One Group will post 0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Formula One Group

A number of hedge funds and other institutional investors have recently modified their holdings of FWONK. Hahn Capital Management LLC raised its position in shares of Formula One Group by 33.5% in the second quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after buying an additional 17,219 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Formula One Group during the 4th quarter worth $1,167,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Formula One Group in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 92.26% 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.