Formula One Group (NASDAQ:FWONA) Earns Buy Rating from Benchmark

Formula One Group (NASDAQ:FWONA)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a report issued on Thursday,Benzinga reports. They presently have a $81.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 8.97% from the stock’s current price.

Formula One Group Trading Down 3.8 %

NASDAQ:FWONA opened at $74.33 on Thursday. Formula One Group has a 12-month low of $55.25 and a 12-month high of $79.67. The firm has a market cap of $17.47 billion, a PE ratio of 64.64 and a beta of 0.05. The stock has a fifty day moving average price of $72.74 and a 200 day moving average price of $69.41.

Insider Buying and Selling

In other Formula One Group news, Director Andrea L. Wong sold 1,604 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the completion of the transaction, the director now owns 5,274 shares in the company, valued at approximately $250,040.34. This represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Renee L. Wilm sold 19,202 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $78.78, for a total value of $1,512,733.56. The disclosure for this sale can be found here. Insiders sold a total of 30,817 shares of company stock worth $2,327,591 in the last 90 days. Company insiders own 4.83% of the company’s stock.

Institutional Investors Weigh In On Formula One Group

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC boosted its position in Formula One Group by 4.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,462 shares of the company’s stock worth $534,000 after acquiring an additional 300 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Formula One Group by 13.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,413 shares of the company’s stock worth $788,000 after purchasing an additional 1,600 shares during the period. Finally, Lountzis Asset Management LLC purchased a new position in shares of Formula One Group during the 3rd quarter worth $220,000. Institutional investors and hedge funds 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.