Insider Selling: Formula One Group (NASDAQ:FWONA) Insider Sells 19,202 Shares of Stock

Formula One Group (NASDAQ:FWONA) insider Renee L. Wilm sold 19,202 shares of the firm’s stock in a transaction dated 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 SEC, which is available through this link.

Formula One Group Stock Down 0.8 %

NASDAQ FWONA traded down $0.58 during trading hours on Monday, reaching $70.99. 148,122 shares of the company were exchanged, compared to its average volume of 101,511. The stock has a market capitalization of $16.68 billion and a P/E ratio of 51.82. Formula One Group has a 1 year low of $55.08 and a 1 year high of $75.50. The business’s 50 day simple moving average is $70.84 and its 200-day simple moving average is $66.07.

Formula One Group (NASDAQ:FWONA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $1.04 billion. As a group, sell-side analysts anticipate that Formula One Group will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula One Group stock. Janney Montgomery Scott LLC increased its holdings in Formula One Group (NASDAQ:FWONA) by 13.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. 8.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FWONA has been the topic of several recent analyst reports. Benchmark lifted their target price on shares of Formula One Group from $77.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Formula One Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $73.00 to $83.00 in a report on Thursday, May 30th.

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.