Formula One Group (NASDAQ:FWONA) Receives “Buy” Rating from Benchmark

Formula One Group (NASDAQ:FWONA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research report issued on Thursday,Benzinga reports. They currently have a $81.00 price objective on the stock. Benchmark’s price target suggests a potential upside of 3.85% from the stock’s previous close.

Formula One Group Stock Performance

FWONA traded down $0.43 on Thursday, hitting $78.00. The company had a trading volume of 6,692 shares, compared to its average volume of 100,334. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 67.97 and a beta of 0.05. The stock has a fifty day moving average price of $72.34 and a 200-day moving average price of $69.21. Formula One Group has a 12-month low of $55.25 and a 12-month high of $79.67.

Insider Buying and Selling at Formula One Group

In related news, insider Renee L. Wilm sold 19,202 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Renee L. Wilm sold 19,202 shares of Formula One Group stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total transaction of $1,512,733.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brian J. Wendling sold 10,011 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $73.80, for a total value of $738,811.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,817 shares of company stock worth $2,327,591. 4.83% of the stock is owned by insiders.

Institutional Trading of Formula One Group

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

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.