Formula One Group (NASDAQ:FWONK) CAO Brian J. Wendling Sells 1,094 Shares

Formula One Group (NASDAQ:FWONK) CAO Brian J. Wendling sold 1,094 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $69.57, for a total value of $76,109.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Brian J. Wendling also recently made the following trade(s):

• On Friday, September 20th, Brian J. Wendling sold 10,011 shares of Formula One Group stock. The shares were sold at an average price of $73.80, for a total value of $738,811.80.

Formula One Group Stock Performance

NASDAQ:FWONK opened at $84.17 on Friday. The firm has a 50-day simple moving average of $79.55 and a two-hundred day simple moving average of $76.49. Formula One Group has a fifty-two week low of $61.23 and a fifty-two week high of $86.65. The firm has a market cap of $18.71 billion, a P/E ratio of 73.19 and a beta of 0.01.

Formula One Group (NASDAQ:FWONK) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.18. The business had revenue of $848.00 million during the quarter, compared to the consensus estimate of $837.59 million. On average, equities research analysts predict that Formula One Group will post 1.24 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FWONK. UBS Group initiated coverage on shares of Formula One Group in a research report on Thursday, October 17th. They set a “neutral” rating and a $85.00 price target for the company. Rosenblatt Securities raised their price target on Formula One Group from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley raised their price objective on shares of Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Finally, StockNews.com cut shares of Formula One Group from a “hold” rating to a “sell” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $88.25.

Institutional Investors Weigh In On Formula One Group

Several institutional investors have recently modified their holdings of the business. Beach Investment Counsel Inc. PA bought a new position in Formula One Group during the 2nd quarter valued at about $48,000. Lountzis Asset Management LLC raised its holdings in shares of Formula One Group by 17.0% during the third quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after purchasing an additional 864 shares during the last quarter. MetLife Investment Management LLC lifted its position in Formula One Group by 3.0% during the third quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock valued at $538,000 after purchasing an additional 203 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Formula One Group by 16.9% in the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock worth $2,117,000 after purchasing an additional 3,958 shares during the last quarter. Finally, Hahn Capital Management LLC grew its position in Formula One Group by 33.5% in the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock worth $4,929,000 after purchasing an additional 17,219 shares during the period. 92.26% of the stock is 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.