Insider Selling: Formula One Group (NASDAQ:FWONK) Insider Sells $1,512,733.56 in Stock

Formula One Group (NASDAQ:FWONK) 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 transaction of $1,512,733.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Formula One Group Price Performance

Formula One Group stock opened at $77.07 on Thursday. Formula One Group has a 1-year low of $60.95 and a 1-year high of $82.23. The stock has a market cap of $16.17 billion and a PE ratio of 56.26. The stock’s fifty day moving average is $77.53 and its two-hundred day moving average is $73.16.

Formula One Group (NASDAQ:FWONK) last released its quarterly 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 company had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $960.45 million. On average, research analysts expect that Formula One Group will post 0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on FWONK shares. Evercore ISI lifted their target price on Formula One Group from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, June 4th. StockNews.com upgraded Formula One Group to a “sell” rating in a report on Saturday, August 24th. Finally, Morgan Stanley upped their price target 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

Several hedge funds have recently made changes to their positions in FWONK. Janney Montgomery Scott LLC acquired a new position in Formula One Group in the 4th quarter valued at $1,167,000. Hahn Capital Management LLC boosted its holdings 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 acquiring an additional 17,219 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Formula One Group during the second quarter worth about $48,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

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.