Janney Montgomery Scott LLC Sells 1,515 Shares of Formula One Group (NASDAQ:FWONA)

Janney Montgomery Scott LLC decreased its position in Formula One Group (NASDAQ:FWONA) by 12.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,651 shares of the company’s stock after selling 1,515 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Formula One Group were worth $762,000 at the end of the most recent quarter.

Insiders Place Their Bets

In related news, insider Renee L. Wilm sold 19,202 shares of the 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea L. Wong sold 1,604 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now directly owns 5,274 shares of the company’s stock, valued at approximately $250,040.34. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,817 shares of company stock worth $2,327,591 over the last quarter. 4.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Formula One Group Stock Down 3.8 %

Shares of FWONA opened at $74.33 on Monday. The business has a 50-day simple moving average of $72.74 and a two-hundred day simple moving average of $69.46. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of 64.63 and a beta of 0.05. Formula One Group has a 52 week low of $55.25 and a 52 week high of $79.67.

About Formula One Group

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.