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

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

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 Down 1.1 %

FWONK stock opened at $84.17 on Friday. The company has a 50 day moving average of $79.55 and a two-hundred day moving average of $76.49. Formula One Group has a 12-month low of $61.23 and a 12-month high of $86.65. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 73.19 and a beta of 0.01.

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

Hedge Funds Weigh In On Formula One Group

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FWONK. UBS Group started 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 objective for the company. StockNews.com lowered shares of Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Morgan Stanley lifted their price target on shares of Formula One Group from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Finally, Rosenblatt Securities increased their price objective on Formula One Group from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $88.25.

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.