Formula One Group (NASDAQ:FWONK) Director Sells $76,045.64 in Stock

by · The Markets Daily

Formula One Group (NASDAQ:FWONK – Get Free Report) Director Andrea L. Wong sold 1,604 shares of Formula One Group stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total transaction of $76,045.64. Following the transaction, the director now directly owns 5,274 shares in the company, valued at $250,040.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Formula One Group Stock Up 0.7 %

Shares of NASDAQ:FWONK opened at $78.15 on Friday. The firm has a market cap of $18.37 billion and a price-to-earnings ratio of 57.04. Formula One Group has a 12 month low of $60.95 and a 12 month high of $82.23. The company’s fifty day simple moving average is $77.50 and its 200 day simple moving average is $73.24.

Formula One Group (NASDAQ:FWONK – Get Free Report) last issued its quarterly 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 firm had revenue of $853.00 million during the quarter, compared to the consensus estimate of $960.45 million. Research analysts expect that Formula One Group will post 0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Formula One Group

Institutional investors have recently bought and sold shares of the company. Beach Investment Counsel Inc. PA acquired a new stake in shares of Formula One Group in the second quarter valued at approximately $48,000. Janney Montgomery Scott LLC bought a new position in Formula One Group in the fourth quarter valued at $1,167,000. Finally, Hahn Capital Management LLC increased its stake in 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 last quarter. Institutional investors own 92.26% of the company’s stock.

Wall Street Analysts Forecast Growth

FWONK has been the topic of several research analyst reports. StockNews.com raised Formula One Group to a “sell” rating in a research note on Saturday, August 24th. Morgan Stanley lifted their price objective on Formula One Group from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. Finally, Evercore ISI increased their target price on Formula One Group from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th.

View Our Latest Research Report on FWONK

About Formula One Group

(Get Free Report)

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.

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