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

Formula One Group (NASDAQ:FWONK) insider Renee L. Wilm sold 19,202 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is accessible through the SEC website.

Formula One Group Price Performance

Shares of Formula One Group stock opened at $77.45 on Wednesday. The firm has a 50 day simple moving average of $77.54 and a 200 day simple moving average of $73.13. Formula One Group has a fifty-two week low of $60.95 and a fifty-two week high of $82.23. The firm has a market cap of $18.20 billion and a P/E ratio of 56.53.

Formula One Group (NASDAQ:FWONK) last released its earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The business had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $960.45 million. On average, sell-side analysts expect that Formula One Group will post 0.98 EPS for the current year.

Institutional Trading of Formula One Group

A number of institutional investors have recently bought and sold shares of the business. Hahn Capital Management LLC grew its holdings in shares of Formula One Group by 33.5% in the 2nd quarter. Hahn Capital Management LLC now owns 68,616 shares of the company’s stock valued at $4,929,000 after buying an additional 17,219 shares during the period. Beach Investment Counsel Inc. PA acquired a new position in shares of Formula One Group in the 2nd quarter valued at $48,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Formula One Group by 13.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,000 shares of the company’s stock valued at $1,378,000 after buying an additional 2,514 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.

Wall Street Analyst Weigh In

FWONK has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Formula One Group from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday. Evercore ISI raised their price target on shares of Formula One Group from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Finally, StockNews.com raised shares of Formula One Group to a “sell” rating in a report on Saturday, August 24th.

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.