Formula One Group (NASDAQ:FWONA) Hits New 1-Year High – Here’s What Happened

Formula One Group (NASDAQ:FWONA)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $79.99 and last traded at $79.81, with a volume of 37939 shares trading hands. The stock had previously closed at $77.45.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th.

Formula One Group Stock Up 0.7 %

The business’s fifty day moving average price is $73.93 and its 200 day moving average price is $70.27. The firm has a market capitalization of $19.06 billion, a PE ratio of 70.51 and a beta of 0.05.

Insider Buying and Selling

In other Formula One Group news, CAO Brian J. Wendling sold 1,094 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $69.57, for a total transaction of $76,109.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Renee L. Wilm sold 19,202 shares of the company’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 disclosure for this sale can be found here. Insiders sold 31,911 shares of company stock valued at $2,403,701 over the last ninety days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Formula One Group stock. Lountzis Asset Management LLC purchased a new stake in Formula One Group (NASDAQ:FWONA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,079 shares of the company’s stock, valued at approximately $220,000. Hedge funds and other institutional investors own 8.38% 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.