Insider Selling: Formula One Group (NASDAQ:FWONA) Director Sells 1,604 Shares of Stock

Formula One Group (NASDAQ:FWONA) Director Andrea L. Wong sold 1,604 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total transaction of $76,045.64. Following the completion of the sale, the director now owns 5,274 shares of the company’s stock, valued at approximately $250,040.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Formula One Group Stock Performance

NASDAQ FWONA opened at $72.29 on Friday. The firm has a 50-day moving average of $70.87 and a 200-day moving average of $66.19. The stock has a market cap of $16.99 billion and a PE ratio of 52.77. Formula One Group has a 52-week low of $55.24 and a 52-week high of $75.50.

Formula One Group (NASDAQ:FWONA) last posted its 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 firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $1.04 billion. As a group, analysts predict that Formula One Group will post 1.14 EPS for the current fiscal year.

Institutional Trading of Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Janney Montgomery Scott LLC boosted its holdings in Formula One Group (NASDAQ:FWONA) by 13.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Institutional investors own 8.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark increased their price target on shares of Formula One Group from $77.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

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.